Musk sold $6.9b worth of Tesla because of Twitter case
Elon Musk sold $6.9 billion worth of $Tesla (TSLA.US)$ shares which is about 7.92 million shares from Aug 5 to 9, according to the new filings. He now owns 155.04 million shares in Tesla.
He said it is to prevent an emergency sales of the shares in the event that the Twitter deal was forced through. If he sold only after the deal was force, that will cause the stock to plunge hard. By hyping the stock price and then sneakily selling his share, would result in him selling less shares to raise the needed cash.
Why sell if you are so confident in winning? And selling that much? It seems to suggest that Musk thinks there is a very good chance that he will be forced to acquire Twitter.
Gene Munster, managing partner at venture-capital firm Loup Ventures, said that he believes the odds that Musk is going to buy $Twitter (Delisted) (TWTR.US)$ is at 75%.
Legal experts believe that Musk could have to sell more shares if he loses his battle against Twitter.
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Silverbat : He pumped up stock prices to sell shares for his $44B Twitter toy, did same in last Q4 for his tax expenses.
Silverbat : $6.9B is not enough to settle the Twitter case.
TeslaSmurf : He wants Twitter at ANY cost…
doctorpot1 OP Silverbat : smart move though![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
. someone else helps to pays for your bill, and shareholders always love share price going up ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
doctorpot1 OP Silverbat : yea if it is forced to close he will have to sell more, if his lending facilities bails then he will have to sell even more. or find new lenders.
doctorpot1 OP TeslaSmurf : The cost is 54.20 per share hahahaha![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Doubt any white knight will appear and offer Twitter a higher price.
Venture118 : Will go down even more after split
…
doctorpot1 OP Venture118 : that I'm not so sure though cause from past splits, it goes up on the longer term hahaha![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
supporters who can't afford to buy at high price can now buy in, and Musk have a lot a lot of supporters.
mochichichi Silverbat : Enough for him to settle Twitter case
Venture118 doctorpot1 OP : Well said … I can only afford when split, hopefully my patience to wait will not b disappointed![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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