Tesla shares slump 7% on Musk plan to sell 10% stake

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Tesla shares slump 7% connected Musk program to merchantability 10% involvement - MarketWatch Skip to main content

Published: Nov. 8, 2021 astatine 4:21 a.m. ET

Tesla TSLA, -0.64% shares slumped 7% successful aboriginal premarket enactment aft CEO Elon Musk indicated he would merchantability a 10% involvement successful the luxury automaker. Musk said the involvement merchantability was conditional connected the effect of a canvass connected Twitter, wherever 58% voted for him to sell. Musk didn't specify a timeframe for making the banal sale. Tesla shares person climbed 73% this year, and tripled from Nov. 10, 2020. It's the fifth-largest value successful the S&P 500 SPX, +0.37%.

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Steven Goldstein is based successful London and liable for MarketWatch's sum of fiscal markets successful Europe, with a peculiar absorption connected planetary macro and commodities. Previously, helium was Washington bureau chief, directing MarketWatch's economic, governmental and regulatory coverage. Follow Steve connected Twitter: @MKTWgoldstein.

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