Elon Musk said he is not going to sell shares of Tesla for at least a year and a half
American businessman and billionaire Elon Musk said he will not sell shares in electric car maker Tesla, which he founded, for at least a year and a half.
“I won’t sell stock for, I don’t know, at least 18 to 24 months. You can count on me – no stock sales until maybe, I don’t know, 2025 or something like that,” Axios quoted Musk as saying in a Twitter audio chat.
Tesla’s stock price has been falling lately due to fears that Musk would pay more attention to Twitter, which he acquired, at the expense of the automaker. Namely, investors noticed that Musk was selling Tesla stocks en masse in order to buy the social network and strengthen its financial situation.
After Thursday’s announcement, Tesla’s share price rose 2 percent.