Elon Musk Sold Tesla Shares Before Company Acknowledged Weakness

[mahatmakanejeeves]

Source: The Wall Street Journal.

MARKETS * FINANCIAL REGULATION

Elon Musk Sold Tesla Shares Before Company Acknowledged Weakness

The stock tumbled after the CEO's sale and fell further on the electric-car maker's deliveries report

By Jonathan Weil
https://twitter.com/jonathanweil
[e-mail]
Jan. 20, 2023 5:30 am ET

Late last year, after a wave of news reports pointing to sagging demand for his company's vehicles, Tesla Inc. TSLA -1.25%decrease; red down pointing triangle Chief Executive Elon Musk sold almost $3.6 billion of his shares in the electric-car maker.

On Jan. 2, Tesla announced fourth-quarter vehicle deliveries that were significantly below the company's most recent forecast to investors. The news sent Tesla's stock price plunging when markets opened the next day.

{Continue reading your article with a WSJ membership}

Read more: https://www.wsj.com/articles/elon-musk-sold-tesla-shares-before-company-acknowledged-weakness-11674177642

---

It's The Wall Street Journal., so none of this is true.

ETA:

There's a thread about this in GD too, with more text than I was able to copy.

Elon Musk Sold Tesla Shares Before Company Acknowledged Weakness (WSJ)

https://www.democraticunderground.com/100217575244

Fri Jan 20, 2023, 08:08 AM

[exboyfil]

1. I am a relatively low level engineer with no management responsiblity

and I can only trade my company stock in narrow windows (basically a week after each quarterly report).

This is utter BS.

[sakabatou]

2. Is this insider trading?

[igorman]

4. The article says it may be

He will be interested.

[sakabatou]

5. Well, I don't have access to WSJ.

And I'm not willing to pay subscription.

[mahatmakanejeeves]

6. Yes, you do.

Last edited Fri Jan 20, 2023, 07:57 PM - Edit history (1)

Well, I don't have access to WSJ.

Sun Feb 13, 2022: How to get around the paywall at national newspapers

The big national newspapers, like the Washington Post, the New York Times, and The Wall Street Journal. are almost certainly available on your public library's database. As in, available for free*, with no paywall.

You don't have to go to the library. Since you're reading this, you have access to a computer. Log into your account at the library and find the database of newspapers. The Post will be there. Ask your librarian for help if you need it.

{edited to add} The library doesn't have to be open. Its website is running 24/7, so you can log in at 2:00 a.m. on Sunday morning to read the newspaper.

Articles in the Cody, Wyoming, Enterprise, the Fairhope, Alabama, Times, or the Kodiak, Alaska, Daily Mirror might be just a bit harder to find.

You are not cheating the newspapers by doing this. They are paid royalties by the databases for the access.

Here's how this works.

I pay for the library with my taxes. The library takes my taxes, bundles them up with everyone else's taxes, and then uses the money to buy books, computers, and DVDs; pay the light bill; and so forth. They also use the money to pay for access to online databases.

The online databases, such as Gale, pay the major national newspapers a royalty fee to have the newspapers' content show up in those databases. For newspapers, this is a source of revenue, just as book publishers and authors receive payment for the books that are on the shelves of libraries. The newspapers have been letting their content appear in databases, so I suspect that they are complacent with the practice.

You might argue that people who don't pay taxes are getting a free ride, but I don't mind picking up the tab so that school kids can read books or that the unemployed can do job searches online. It's a civic duty.

At no point is anyone committing theft. The newspapers receive payment for their articles, and the writers receive salaries for their work.

* The process is "free" in the sense that you pay for it with your taxes. That kind of free.

Full disclosure: I visited the library yesterday, to look up something in -- wait for it -- The Wall Street Journal.

[sunflowerseed]

7. Thank you!!

That is awesome!!

[sunflowerseed]

9. If you choose

You could make a op?

Maybe everyone already knows and I'm late for the bus?

[mahatmakanejeeves]

10. I've posted it before. I bring it out from time to time. Thanks for the suggestion, though. NT

[OnlinePoker]

3. It could just be tax loss selling before the end of the year...

...or money needed to fund other activities. I'm wondering if he could have been in a margin situation regarding the Twitter deal and lenders wanted/needed a cash infusion. The price only dropped $40-$50 after he sold and actually recovered to above the price it was when the missed guidance was announced.

[mahatmakanejeeves]

8. Which I did myself in the waning days of 2022. Thanks.

And good morning.

[republianmushroom]

11. Tsk Tsk, Elon

[moniss]

12. Doing

anything he pleases with no regard for the law or others? Yes that would be in character for him.

[BumRushDaShow]

13. Congrats

on the 50K milestone! - https://www.democraticunderground.com/10181764720

[mahatmakanejeeves]

15. Thank you. It crept up on me.

I didn’t notice it at the time.

[myohmy2]

14. what...?

...is something wrong...?

...how many times have we seen this movie...?

...