Elon Musk sells 4.4 million Tesla shares worth $3.99 billion

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Elon Musk, the CEO of electric vehicle maker Tesla Inc, has reportedly sold 4.4 million of its shares worth $3.99 billion

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The findings were reported by Bloomberg, citing Form 4 filings.

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“Form 4 has been split into five filings to cover all 138 individual transactions that occurred on two consecutive transaction dates,” it said.

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Shortly after the filings, Musk said there are “no further TSLA sales planned after today”

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Musk offloaded the shares, equating to 2.6 per cent of his stake in the company, on April 26 and April 27, according to the filings.

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Tesla shares fell 12 per cent on April 26, the highest since September 2020, and have changed little in the following two sessions, with the stock closing Thursday at $877.51.

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