Several of the figures in Tesla's top management are busy selling off their shares in the car brand, which is in the midst of a downturn in many respects.
In the midst of a significant decline in the stock market, several of Tesla's top executives and people close to them are busy selling off their Tesla shares.
Among those selling out are the CFO, a board member and Elon Musk's own brother, all of whom have chosen to part with a significant portion of their investments in Tesla.
This is what Automotive Drive writes.
At the same time, the stock has been in free fall. Yesterday, Tesla experienced a significant decline on the stock exchange, with the price falling by 15.43 percent.
This corresponds to a loss of value of 892 billion kroner in one day. The major downturn has created concern about Tesla's future, as several of the company's top executives have sold shares immediately before the price drop.
Several Tesla executives are selling their shares
Several of Tesla's senior figures have sold large portions of shares in recent weeks. Chief Financial Officer Vaibhav Taneja has sold shares worth $1.7 million, equivalent to 11.62 million Danish kroner.
However, he is not the only one in management who has chosen to sell out. Board member Robyn Denholm sold shares for $33 million in March, which translates to just over 225 million Danish kroner.
The fact that some people in the company are choosing to reduce their shareholdings has led to speculation about their views on Tesla's future development.
Some analysts believe that this may be a sign of weakened expectations for the company's results. Others point out that it may be a matter of general risk diversification on the part of management.
Kimbal Musk, brother of Elon Musk, has also sold shares in Tesla. In February, he sold shares worth over ten million dollars.
The tendency among some of the company's employees to sell shares may raise doubts about whether they have confidence in the company's long-term strategy.
The sale of shares is not an isolated event. Taneja also sold shares in February for $2.8 million, while Denholm sold shares for $43 million in the same month.
The large volume of share sales from Tesla's internal circle has led the market to speculate whether there are internal concerns about the company's development.
After the big drop in price, Tesla shares have experienced a small increase of 5.66 percent in early trading on the US stock market. However, this does not change the fact that several senior figures in the company have already secured gains before the recent price fluctuations.
Elon Musk is known for taking big risks both personally and professionally, but the extensive stock sell-off from people close to him may indicate that not everyone around him shares his optimism for Tesla.
