A U.S securities filing showed he unloaded 22 million shares in the world’s most valuable carmaker over three days from Monday to Wednesday.
“It doesn’t put a lot of confidence in the business, or speak volumes for where his attention is at,” said Tony Sycamore, an analyst at brokerage IG Markets, where Tesla is a popular stock among small-time investors. Mr. Musk’s 13.4-per-cent stake in Tesla is down from about 17 per cent a year ago, according to Refinitiv data.
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