Tesla CEO Musk promised on Thursday (22nd) that he will not sell Tesla shares in the next one and a half to two years in an attempt to appease investors’ anxiety, and Tesla’s stock price rebounded following hours More than 2%.
Musk’s remarks mean that he will not sell shares until at least 2024, and probably not in 2025. He also pledged not to sell shares earlier this year following a string of stock sales.
Tesla (TSLA-US) The stock price fell once more on Thursday, falling 8.88% to $125.35 per share. After Musk promised not to sell shares, its stock price rose 3.3% following hours, and the increase was 2.7% before the deadline. If the gains can be maintained at the opening today, it will end the five-day losing streak.
The stock has fallen by regarding 70% this year to Thursday’s close, far worse thanNasdaqWait for the performance of the US stock market over the same period.
In a Twitter Spaces voice chat on Thursday, Musk reiterated his previous assertion that Tesla’s stock price decline had less to do with his distraction from Twitter than a string of rate hikes by the Federal Reserve.
He also predicted a “severe” recession in 2023, with consumer demand slumping.
When an audience asked Musk if he would consider recruiting experts such as venture capitalist David Sacks for Twitter so that he might concentrate on leading Tesla, Musk avoided answering and said that Twitter is a relatively simple business, ” Twitter is regarding 10% as complex as Tesla.”
Since Musk acquired Twitter in October and took it off the market, he often used Twitter’s chat platform to talk regarding products and company strategies, but there were several disputes: Twitter engineers questioned Musk’s intention to rewrite a large amount of software code.
Before Musk acquired Twitter, Tesla’s share price had fallen by 36% this year, andNasdaq31% is not far behind, but following the acquisition was confirmed, Tesla’s stock price fell by regarding 40%, whileNasdaqIt was down just 2% over the same period.
Tesla shareholders have repeatedly complained regarding Musk’s stock sales, which are often unexpected and complicate their investment decisions.
In total, Musk has sold nearly $40 billion worth of Tesla stock this year, most of which was used to complete the acquisition of Twitter.
