Tesla Stock Plunge and Insider Selling

SOURCE abcnews.go.com
Shares of Tesla have plunged nearly 50% since mid-December, leading to board members and executives selling off millions of dollars in stock. Top officers have offloaded over $100 million in shares since early February, with the latest sale by James Murdoch coinciding with the stock's largest single-day decline in five years.

Key Points

  • Shares of Tesla have dropped almost 50% since mid-December.
  • Top officers at Tesla have collectively sold over $100 million in shares since early February.
  • Board members and executives, including Elon Musk's brother Kimbal Musk and chairman Robyn Denholm, have been part of the selling spree.
  • James Murdoch, a board member and Elon Musk ally, recently sold shares worth approximately $13 million during a significant stock decline.
  • The sales by insiders have raised concerns among shareholders and pension funds.
  • Analysts suggest that the stock sales may be driven by personal financial choices and not necessarily negative sentiment towards the company.