Tesla, ‘double hit’ by Musk: he sells shares at 1000 dollars and buys them at 6

Elon Musk reduces his stake in Tesla, indeed no. After the yes of Twitter users to the ‘referendum’ via social media conducted by the founder of Tesla about the possibility of selling 10% of his share package in the car manufacturer, the South African entrepreneur – as revealed by the documents sent to the SEC, Consob American – has in effect placed on the market (directly or through its trust) a package of securities for a total value of 5.5 billion dollars. Despite the collapse triggered by the announcement of the operation initiated by Musk, the shares were put on the market at values ​​above 1000 dollars each. But the sale of the package – also conducted for tax reasons – was actually accompanied by a parallel purchase of 2,154,572 shares, since Musk has exercised a stock option right: and in this case the price paid, based on the ‘old’ deal was a much cheaper value of $ 6.24 per share, equal to a 99.4% discount on yesterday’s close (rising to $ 1067). A ‘double blow’, in short, which allowed the founder of Tesla to monetize part of his share package, repurchasing it in part with an enormous economic benefit, since the ‘new’ securities, purchased for less than 14 million dollars are worth already 2.3 billion.