According to a document, Kimbal Musk, Elon Musk’s brother and a board member, sold off 75,000 shares last month for almost $27 million. According to federal documents, Robyn Denholm,
The board chairperson, has sold more than $75 million worth of shares in two transactions within the last five weeks. Denholm’s selloffs were a part of a planned sales strategy.
In November and December, other executives and board members took similar actions. However, the new sales coincide with a turbulent period for Tesla,
As the stock has dropped by about 50% from its mid-December high. Since President Donald Trump entered office and Musk started.
His contentious government cost-cutting initiatives as the director of the newly established Department of Government Efficiency, the company’s shares have lost the bulk of those losses.
