Magical Trade
Saturday, June 10, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Tesla Shares Rally Despite Musk Selling Over $1 Billion of His Stake

by
November 27, 2021
in Trade News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Elon Musk has sold billions of dollars worth of his shares in Tesla to pay taxes. However, TSLA has been rallying higher over the past 24 hours.

The rally could mean that the market has adjusted to the news of Musk selling his shares in the electric company.

RELATED POSTS

Investors are shifting into high-yield ETFs with a potential Fed pause on the horizon

$5.2 billion in cargo stuck off West Coast ports in truck and container bottleneck

Musk Sold $1.05 Billion in Tesla Shares

Financial filings have revealed that Tesla CEO Elon Musk sold $1.05 billion worth of Tesla shares earlier this week. This latest development has brought his total share sales to more than $9 billion over the past few days.

Per the filing, Musk sold $9.85 billion in Tesla stock this month. The Tesla CEO sold $6.9 billion worth of the stocks in the second week of the month before selling another $1.9 billion on November 15.

Musk sold some of the shares to satisfy tax obligations related to an exercise of stock options. Despite selling nearly $10 billion worth of his shares in Tesla, Musk and his trust still hold over 169 million shares in the company.

The shares of Tesla experienced massive losses on November 10 after Musk’s Twitter poll resulted in him selling more than $6 billion worth of TSLA. However, the recent sale hasn’t affected TSLA’s price as the stock is up by nearly 1% over the past few hours.

TSLA Could Reach $1,200 Soon

Tesla remains one of the best-performing stocks in the United States over the past few months. Year-to-date, TSLA is up by more than 58%. In the past month, the stock price has added nearly 9% to its value. Thus, indicating that Tesla remains attractive to investors despite Musk selling some of his shares.

TSLA stock chart. Source: FXEMPIRE

The TSLA chart shows that the stock is positive. At the time of writing, Tesla’s MACD line is above the neutral zone, indicating that the stock is currently bullish. Furthermore, its RSI of 61 shows that TSLA is heading into the overbought region.

If TSLA can continue with its recent momentum, the stock price could rally towards the $1,200 level before the end of the year.

This article was originally posted on FX Empire

More From FXEMPIRE:

Direxion’s Clean Energy ETF Could Rally Higher Due to Global Demand

Is Dogecoin Ready For A Short Squeeze?

SAND Soars Over 260% In November While Metaverse is on Fire

The SubQuery Network Goes Live on Acala, Polkadot’s leading parachain

EUR/USD Mid-Session Technical Analysis for November 25, 2021

Germany’s New Multi-party Government to Raise Investment but Maintain Fiscal Discipline

ShareTweetPin

Related Posts

Investors are shifting into high-yield ETFs with a potential Fed pause on the horizon

by
June 9, 2023
0

Investors are beginning to stretch for yield as the Federal Reserve's rate-hiking cycle winds down, ETF flows data suggests. The...

$5.2 billion in cargo stuck off West Coast ports in truck and container bottleneck

by
June 9, 2023
0

A photo of Fenix Marine Services rail terminal on June 8, 2023, taken by a trucker. The "slow and go"...

Crypto tokens plunged this week after Gensler stepped up SEC crackdown

by
June 9, 2023
0

Gary Gensler, Chair of the U.S. Securities and Exchange Commission, takes his seat before the start of the Senate Banking,...

Trump charged with 37 counts in classified documents case, indictment says

by
June 9, 2023
0

A 37-count criminal indictment against Donald Trump was unsealed Friday, revealing allegations that the former president willfully retained hundreds of...

Carvana stock surge leaves short sellers sitting on $1 billion loss

by
June 9, 2023
0

S&P 500 4,298.86 +4.93(+0.11%)   Dow 30 33,876.78 +43.17(+0.13%)   Nasdaq 13,259.14 +20.62(+0.16%)   Russell 2000 1,865.71 -15.07(-0.80%)   Crude...

Next Post

Don’t Bet on Rates Rising in 2022. Here’s Why.

Dozens of travelers arriving in the Netherlands from South Africa test positive for Covid-19

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Josh Brown says Nvidia’s potential is ‘scary’ ahead of a potential AI boom

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net