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Tesla Inc.

Tesla Inc.111 posts

Tesla Inc. is a California-based company that builds electric cars, batteries and powertrains. It was founded in 2003 and initially financed by Martin Eberhard and Marc Tarpenning. Elon Musk became its chairman a year later and, in 2008, its CEO. The company produces the Model S, Model X and Model Y. It has stores in North America, Europe, Asia and Australia.

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1 Apr, 2023

Soros sells all Tesla holdings

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Soros Fund Management, the family office of George Soros, sells its entire stake in Tesla. This includes stock as well as $35 million of convertible bonds. Soros bought the bonds in 2018 and the stock in 2022. When he purchased the latter, Tesla shares averaged $274, but at the time of sale they average just $173.

23 Mar, 2023

ARK sells $27m Tesla stock, buys Coinbase

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ARK Investment Management’s Cathy Wood sells off $26.84 million of Tesla (TSLA) stock, at a closing price of $192.22, buying shares of Coinbase (COIN) instead. For a total of 139,642 TSLA shares, Wood’s firm sold 119,630 from its ARK Innovation ETF (ARKK) and 20,012 from the ARK Next Generation Internet ETF (ARKW).

9 Nov, 2022

Musk sells $3.95 billion of Tesla stock

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Regulatory filings show Musk sold nearly $4 billion worth of Tesla shares, bringing his total sold since April to $19 billion. He sold $7 billion in August.  These three most recent blocks of Tesla stock sales represent only 4% of the shares that Musk owns outright through a trust, and less than 3% of his holdings if options that he has to buy additional shares are included.

Musk’s filings did not disclose the reason for those earlier stock sales. But after someone on Twitter asked him if he was done selling Tesla shares, he responded “Yes” and then pointed to the possibility of being forced to buy Twitter as the reason for those sales. Shares of Tesla are down almost 50% this year.