Home / Business / Elon Musk acquires Tesla shares for almost $ 10 million | 05/12/18

Elon Musk acquires Tesla shares for almost $ 10 million | 05/12/18

Tesla's largest shareholder, CEO Elon Musk, has further increased its share in the company and bought more Tesla shares for approximately $ 10 million.

As a statement to the Securities and Exchange Commission on Monday evening, Tesla CEO has bought 33,000 shares worth $ 9.85 million. By March 2017 Musk acquired a Tesla share package of comparable size. According to Bloomberg data, Elon Musk owns nearly 20 percent of Tesla's share capital after the latest increase.

Targeting Short Sellers

No stock is heard more often in the United States than Tesla. Last week, Elon Musk had aimed at short sellers and, at a memorable analyst conference, had sealed questions from short sellers in particular.

At the same time, the CEO had announced the fight against short sellers and announced that betting against Tesla would cost them a lot of money. "The big size of the short bloodbath will be unreal," Musk wrote on Twitter on Twitter "If you're short, I suggest you go silently to the exit …"

Elon Musk and short sellers have had a tense relationship for a long time. One of them – including investor Mark Spiegel – has predicted Tesla bankruptcy for some time now and values ​​the value of the Tesla share to "zero". Nevertheless, in August, Spiegel had to reduce its short position at Tesla when stockhous's bullish trend continued and a bet on the title's crash had cost him too much money.

After Elon Musk, this fate is likely to hit the many other short sellers of Tesla. Price trend seems to be right: Although Tesla shares the failed analyst conference in the past week, it has to give significant, but now the stock has made up for all losses again.

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Source: Kevork Djansezian / Free Photographer / Getty Images, VCG / VCG via Getty Images / Getty Images, Chris Saucedo / Getty Images for SXSW

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