As previously reported , Tesla CEO Elon Musk has brought to the public the question of the advisability of selling 10% of his shares in Tesla. The stake is estimated by third-party sources at $ 21-25 billion, and the billionaire alone owns about 17% of the company's shares. It is clear that the implementation of such a large package is capable of causing a depreciation, and before the opening of trading, such a tendency was indeed traced.
Even in the morning on the German stock market before the opening of trading, the Tesla stock price dipped by 9%, and the decline in the rate before the opening of trading on the American NASDAQ reached 5.98% at its peak, although as the start of trading approached the start of trading, the company's shares were gradually regaining what they had lost, then again fell. In the first minutes after the opening of trading in the United States, the depreciation exceeded 6%, although later it fell to 3.95%.
Recall that the results of a public opinion poll conducted by Musk among 3.5 million subscribers on Twitter persuaded him to sell ten percent of his shares - 57.9% of respondents supported this idea. The billionaire, even before the opening of the vote, said that he would follow the will of the respondents in anAs CNBC explains , the head of Tesla would still have to sell millions of shares in the company in the coming months, as options to purchase 22,862,050 shares expire next August at a price of $ 6.24 apiece. In order not only to buy new shares, but also to pay taxes, he would have to sell the existing shares at market value. According to some estimates, Musk will have to pay about $ 15 billion to the state budget in total, and the proceeds from the sale of 10% of the shares he already owns in the main part would go just to pay taxes.
Representatives of Jefferies on the background of investor interest in Tesla shares raised their forecast for their market value to $ 1400 per share. According to analysts, the company is in a privileged position in the market, since it is already able to increase profits, while car manufacturers of the old formation in the transition period from internal combustion engines to electric traction are forced to sacrifice profitability indicators due to significant costs of business transformation. Tesla simply does not have these "phantoms of the past" in the form of ICE models, and it has already proven its ability to achieve profitability even in the most difficult financial conditions.
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