With another important drop today, Tesla (TSLA) has now dropped more than 12% since CEO Elon Musk announced that he would sell 10% of his stake.
It’s not clear whether Musk has started selling, but his brother, Kimbal Musk, managed to sell $100 million just before Elon publicized his withdrawal
Last weekend, Elon floated the idea that he would sell 10% of his stake in Tesla if a Twitter poll would agree, which it unsurprisingly did.
It put a stop to Tesla’s historic rally that saw its market capitalization of over $1 trillion.
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