Elon Musk Sells $8.5 Billion , Worth of Tesla Shares.<br />Elon Musk Sells $8.5 Billion , Worth of Tesla Shares.<br />CNN reports that three days <br />after Twitter agreed to sell <br />the company to Musk, he sold <br />a hefty amount of Tesla stock.<br />On April 26, he sold 3.7 million shares for <br />$3.3 billion. The following day, he sold another 735,000 shares for $654 million.<br />On the morning of April 29, Musk revealed he sold another 5.2 million shares for $4.5 billion.<br />The average price he <br />received per share was $883.09.<br />While Musk didn't disclose <br />a reason for selling his <br />shares, it's likely part of his <br />funding to buy Twitter.<br />CNN reports that Musk's money moves were significant enough to lower Tesla's stock price by 12% on April 26.<br />The decline prompted other investors <br />to unload shares as well. .<br />On April 28, Musk took to Twitter to let everyone know if he would be selling additional shares.<br />As of April 29, Tesla stock was up 5% <br />in morning trading.
