Tesla's CFO, chairman of the board and Elon Musk's brother have sold tens of millions of dollars worth of Tesla shares. Analysts believe that this is being done because the company's prospects are very unclear due to a number of factors.
Elon Musk's brother, Tesla CFO Taneja Vaibhav and Tesla chairman Robin Denholm have just sold tens of millions of dollars worth of Tesla (TSLA) shares, Elektrec reports.
Public companies must report to the US Securities and Exchange Commission (SEC) any stock trades by key executives and board members. And based on this information, Tesla's senior management is not buying shares, but selling them.
Tesla recently announced that its CFO sold 7,000 shares for $2,681,770. He bought those 7,000 Tesla shares for $18.22 as part of his plan to , and now he's selling them for an average of $383 per share, and the stock market closed at $374.
Robin Denholm, Tesla's chairman, holds the record for the most expensive stock sale by a management team, selling 112,390 shares at an average price of $384.04 for a total of $43,162,255.60.
Tesla also released another SEC filing, announcing that Kimbal Musk, Elon Musk's brother and a Tesla board member, sold 75,000 Tesla shares through Morgan Stanley for $27.5 million. dollars.
Analysts consider this crazy because it shows how these board members are becoming absurdly rich while the company is no longer growing and is heading for one of its worst quarters in recent years.
While they sit idly by and do nothing, the company's CEO Elon Musk continues to do things every day that are leading the company to the abyss.