{"id":276571,"date":"2022-08-11T08:21:27","date_gmt":"2022-08-11T03:21:27","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=276571"},"modified":"2022-08-11T08:21:27","modified_gmt":"2022-08-11T03:21:27","slug":"musk-sells-tesla-shares-worth-6-9-billion","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/musk-sells-tesla-shares-worth-6-9-billion\/","title":{"rendered":"Musk sells Tesla shares worth $6.9 billion"},"content":{"rendered":"<p>Cites chance of forced Twitter deal<br \/>\n ISLAMABAD<br \/>\nTesla Inc (TSLA.O) Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.<br \/>\n\u201cIn the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don\u2019t come through, it is important to avoid an emergency sale of Tesla stock,\u201d he said in a tweet late on Tuesday.<br \/>\nMusk in early July tore up his April 25 agreement to buy Twitter for $44 billion. Twitter has sued Musk to force him to complete the transaction, dismissing his claim that he was misled about the number of spam accounts on the social media platform as buyer\u2019s remorse in the wake of a plunge in technology stocks. The two sides head to trial on Oct. 17.<br \/>\n\u201cStreet will read through this poker move that chances of Twitter deal more likely now,\u201d Dan Ives, an analyst at Wedbush Securities, tweeted.<br \/>\nIn other comments on Twitter on Tuesday, Musk said \u201cyes\u201d when asked if he was done selling Tesla stock, and also said he would buy Tesla stock again if the Twitter deal does not close.<br \/>\nTesla did not immediately respond to a Reuters request for comment.<br \/>\nMusk, the world\u2019s richest person, sold $8.5 billion worth of Tesla shares in April and had said at the time there were no further sales planned. But since then, legal experts had suggested that if Musk is forced to complete the acquisition or settle the dispute with a stiff penalty, he was likely to sell more Tesla shares.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cites chance of forced Twitter deal ISLAMABAD Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform. \u201cIn the (hopefully unlikely) event that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":276600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[6675],"class_list":{"0":"post-276571","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-elon-musk"},"yoast_head":"<!-- This site is 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