Dec 15, 2022

Silverman to CNBC: ‘Watch What Musk Does, Not What He Says’

Tesla CEO Elon Musk has sold about 22 million more shares of his electric vehicle business, which were worth around $3.6 billion, according to a financial filing out Wednesday night. The transactions took place between Monday and Wednesday of this week according to the filings with the Securities and Exchange Commission.

Director of research for VerityData, Ben Silverman, shared with CNBC on Wednesday, “Musk’s prior sales going back to November 2021 were expertly timed, so Tesla shareholders need to pay attention to Musk’s actions and not his words – or lack thereof when it comes to his recent selling.”

According VerityData, Musk has sold 94,202,321 shares so far this year at an average price of $243.46 per share for pretax proceeds of approximately $22.93 billion.

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