Erratic right-wing narcissist and sociopath (no, the other one) Elon "Chief Twit" Musk has sold $3.6 billion in Tesla stock over the past 3 days, according to U.S. securities filings. Tesla stock has fallen more than 50% this year, and 17% just in the past two weeks. The move is troubling investors in the car manufacturer, even more than the incidents of its car fires, and has many believing that Musk's obsession with his new toy Twitter is causing him to ignore his main business and source of wealth:
"The sale is the second big chunk of stock he has cashed out since his $44 billion purchase of Twitter in October. It isn't clear if the sales are related to the Twitter acquisition, but they are annoying investors who are upset by a perception he is diverting his focus and resources to Twitter ahead of Tesla.
'It doesn't put a lot of confidence in the business, or speak volumes for where his attention is at,' said Tony Sycamore, an analyst at brokerage IG Markets, where Tesla is a popular stock among small-time investors.
'It's not a good situation. I've spoken to a lot of investors who have Tesla shares and they're absolutely furious at Elon.'" (our emphasis)
Musk's self-inflicted losses may be traced not only to supply chain and economic issues, but to his increasingly radical right wing actions with Twitter, permitting a deluge of hate speech and notorious conspiracy-spreaders back on the site, causing much of Twitter's advertising revenue to evaporate. Consumers for his electric cars and advertisers for his Twitter site have options and they're choosing them. Where Musk is taking that $3.6 billion is not clear, but throwing good money after bad seems to be this arrogant twit's habit.
(photo: Getty Images)
