Musk Says He Won’t Sell Anymore Tesla Stocks

Elon Musk, the CEO of Tesla, on Thursday said that he will not sell any more stocks of his EV business for about two years. 

 “I won’t sell stock until I don’t know, probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter,” Musk said.

The share price of Tesla rose $129.23 or 3% in after-hours trading, which came after a 8.9% drop in the previous trading hours. 

He previously said the same thing about not selling Tesla stocks just to sell it later.

On Thursday, Tesla stocks dropped 9% as Tesla started offering $7,500 discounts to support customers to take deliveries, which is seen as a slowdown in demand. 

Elon Musk said that Tesla is close to picking the location of its new “Gigafactory” in Nuevo Leon, northern Mexico, with an initial investment of between $800 million and $1 billion, according to local newspaper Reformer.

Tesla CEO dodged the question when asked if he would bring someone such as venture capitalist David Sacks to run Twitter, helping him to focus on EV business.