While Tesla CEO Elon Musk sold Tesla shares worth $5.7 billion or more than about 6.7 trillion won, Tesla’s stock fell the most in 20 months.
Tesla shares fell 2.8% on the New York Stock Exchange from the previous day.
Tesla stock fell 15.4% in the five trading days leading up to the day after Musk’s Twitter survey asking him whether he would sell Tesla stock.
This is the largest weekly decline since March last year, when the US stock market plummeted due to the COVID-19 outbreak.
Over the four days this week, Musk van Tesla’s stock was valued at over $5.7 billion, or about $6.7 trillion.