Tesla shares dip in premarket trading after CEO Elon Musk sells more shares

Tesla shares dip in premarket trading after CEO Elon Musk sells more shares

Tesla Chief Executive Officer Elon Musk unloaded another batch of shares on Monday, in a rough start to the week for the electric car maker.

Musk exercised options to buy 2.1 million shares TSLA, -0.94% at $6.24 each, then sold 934,091 at prices between $952 to $1,002, for a total of about $906.5 million, according to filings with the Securities and Exchange Commission.

The latest batch brings his total sales to around $11.76 billion since Nov. 8, a day after his Twitter poll voted for him to sell a 10% stake in Tesla. As of Dec. 9, he owned a 17.16% stake in the company, according to FactSet Research.

Shares were down 2% in premarket trading on Tuesday.

Monday saw Tesla shares drop nearly 5%, in step with technology losses and the bigger market amid worries about monetary policy and the…

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