Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Tesla Falls as Twitter Users Back Musk Selling 10% of Stake (1)

Nov. 8, 2021, 12:49 PM

Tesla Inc.declined after Elon Musk’s Twitter followers voted in favor of selling 10% of his stake in a poll set up by the electric-car chief.

A majority of 3.5 million Twitter users -- 58% -- said they’d support such a sale in a Twitter poll that Musk ran during the weekend. The stake would be valued at about $21 billion based on 170.5 million Tesla shares he holds.

“I was prepared to accept either outcome,” Musk said in a tweet after the poll closed.

Tesla shares were down 4.1% in pre-market trading on Monday compared with Friday’s close ...