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Tesla shares fall after Elon Musk’s Twitter poll backs sell-off plan
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theguardian.comTesla’s Frankfurt-listed shares fell about 9% in early trading on Monday as investors prepared for chief executive Elon Musk’s proposed sale of about a tenth of his holdings in the electric carmaker after his Twitter poll.
Musk, the world’s richest person, tweeted on Saturday that he would offload 10% of his stock if users of the social media network approved the proposal.
The Twitter poll asking Musk’s followers if he should sell stock, attracted more than 3.5m votes, and 57.9% of people voted “yes”.
Musk had previously said he would have to exercise a large number of stock options in the next three months, which would create a big tax bill. Selling some of his stock could free up funds to pay the taxes.
“I was prepared to accept either
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