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Twitter Inc.
> Musk vowed not to sell more shares, and then he did
Post by
stargazer1 on Aug 10, 2022 7:57am
Musk vowed not to sell more shares, and then he did
Musk vowed not to sell more shares, and then he did
On April 28, after selling $16 billion of Tesla shares, Musk Tweeted, "No further TSLA sales planned after today," and then he did. Over the last five days, through Aug 9, he sold a total of 7.9 million shares of TSLA valued at $7 billion. He said it was just in case he needs to buy Twitter at the previously agreed-on price. He most likely wouldn't have sold those shares at this time if he didn't think that he was going to need the money.
"This stock sale will raise a lot of conversation on Street for bulls/bears in the morning," tweeted Wedbush Securities analyst Dan Ives. Musk's tweet confirms our thoughts on Twitter. The street will read through this poker move and realize that the chances of a Twitter deal are more likely now. Under the deal's specific performance clauses, Musk is likely on the hook unless he can prove he was misled, which would be difficult to do.
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