After weeks of Tesla CEO Elon Musk exercising options and selling shares, the billionaire once again sold shares this week, the company head is still going and is a little over halfway to his original goal.
Musk exercised options on Tuesday to buy 2,512,681 shares from his 2012 compensation plan, then proceeded to sell 934,091 shares, according to @heydave7, worth over $1 billion USD.
With Musk again selling 934,091, a wild theory is at play with these numbers, with some theorizing the company’s stock may split on December 9, 2021.
Today Elon exercised options for 2,512,681 shares (from his 2012 CEO comp plan) & then sold 934,091 shares on the open market.
If Elon's goal is to sell 17m shares total (approx 10% of his common stock holdings), then he is 54% of the way there.$TSLA stock closed $1109 today. pic.twitter.com/KDbVpzfC6s
— Dave Lee (@heydave7) November 24, 2021
Earlier this month, Musk posted a Twitter poll asking if he should sell 10 percent of his stock, which is the reason he’s been selling off stock all month.
According to Dave’s post, Musk is about 54 percent of the way to reaching the original goal, which would account for around 17 million shares total.
Many users in the thread have pointed out that Musk’s move to sell the stock in smaller increments over a long period of time was likely to prevent Tesla’s stock from dropping off immediately.
At the time of writing, Tesla’s shares are selling for $1,120.75 (+11.72), up 1.06 percent from Wednesday’s open.
