Tesla Inc. : Elon Musk has sold nearly $8.4 billion worth of Tesla shares since Tuesday

(BFM Bourse) – The boss of Tesla has liquidated nearly 10 million Tesla shares on the market, an operation which has brought him around 8.4 billion dollars while the leader intends to finance part of his own funds the planned acquisition of the social network Twitter.

Elon Musk has sold nearly 10 million shares of Tesla since Tuesday, after an agreement Monday on his takeover of Twitter.

This sale of 9.6 million shares brought in around $8.4 billion, according to documents filed with the US market regulator, the SEC. I kept, at the end of the operation, a little more than 162.8 million shares of the manufacturer of electric vehicles, via a trust.

“No further TSLA sales [le code mnémonique de l’action] after today,” Elon Musk tweeted on Thursday. To finance the takeover of Twitter, for a total value of nearly $44 billion, Elon Musk plans to provide $21 billion in equity, with the rest financed by debt.

Many investors and analysts wonder about the effective realization of this operation.

Twitter’s stock price remains significantly below Elon Musk’s $54.20 price, suggesting investors harbor doubts that it will materialize.

On Friday, the stock was trading at $49.88 as midday approached in New York, 8% less than what the billionaire would give if a takeover actually ensues.

The market often interprets the difference between the price of an offer and the value of a security as the risk premium, the measure of the risk represented by the acquisition.

As for the Tesla action, after having lost more than 23% since the announcement, by Elon Musk, of a 9.2% stake in the capital of Twitter, on April 4, it rebounded on Friday, gaining 5, 35%.

(With AFP)

©2022 BFM Bourse

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