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Musk Stock Sale Ahead of Bad Tesla News 'Should Be of Great Interest to the SEC'

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'What did he know and what was the market anticipating when he sold? That's a critical moment,' said one securities law expert.

last year to examine whether Musk properly disclosed his purchase of Twitter shares prior to the takeover.

Musk could soon be facing additional heat from the SEC over his suspiciously well-timed stock sale. As thereported Friday, the Tesla chief"sold nearly 22 million shares December 12-14 at an average price of about $163 a share, according to a regulatory filing." "When the stock closed on January 3 at just over $108, the shares Mr. Musk sold the prior month had declined in value by $1.2 billion," the newspaper continued."The stock has since rebounded to about $127.", Georgetown University securities law professor Donald Langevoort said of the sale,"Is it suspicious? Yes. Is it entirely possible there are other explanations? Of course.

 

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