Elon Musk likely paid off Twitter’s bridge loan by selling $3.9 billion worth of Tesla stock over the past few days

This is not investment advice. The author has no positions in any of the stocks mentioned. Wccftech.com has Disclosure and Ethics Policy.

Many expected Elon Musk to sell Tesla stake in the run-up to the Twitter acquisition, filling a likely market. budget deficitBut that somewhat horrifying liquidation came in early November.

So Elon Musk has now filed three separate Form 4s with the SEC, showing that he sold Tesla shares on the 04th.th07thand 08th November (you can peruse these filings here, hereWhen here). Musk has sold a total of 19.5 million shares of Tesla stock over the past few days, valuing him at $3.9 billion.

Rumors are circulating that Elon Musk may have to sell additional Tesla shares to finance Twitter’s growing cash burn, especially as some advertisers do. pause Advertisement-based spending on social media platforms in assessing the direction of global town squares under masks.

However, Gary Black of The Future Fund believes that Elon Musk’s recent Tesla stock liquidation may be an attempt by Tesla’s CEO to pay off a bridge loan he acquired before the Twitter deal was completed. I think it’s expensive.

Of course, the dramatic drop in Tesla stock over the past few days is a clear indication that Elon Musk is likely to sell some stake in the EV giant.

Elon Musk tweeted last week that Twitter is losing $4 million per day, largely as a result of advertisers suspending spending on the platform. Twitter laid off about half of its employees to deal with this financial woes. The mask also $8/month The Twitter Blue service, which provides priority on “replies, mentions and searches,” effectively combats the problem of spam accounts and bots, according to Elon Musk.Readers understand that the Twitter Blue service is Broke up From the platform’s account verification service, the latter will be indicated by an “official” label under the account name. You probably can’t buy a verified “official” label.

Gary Black believes Twitter could offset the lost advertising revenue by generating $400 million in annual cost savings from mass layoffs. Black therefore does not believe that Elon Musk’s latest Tesla stock liquidation was intended to inject additional cash into the beleaguered social media platform.

Leave a Comment