Discover Tesla’s Secret EV Partners: These new tech stocks could supply Tesla, Ford and even the new Apple iCar. Shares could soar up to 476% in the coming months. Go here ASAP for urgent details.
Elon Musk plans to SELL 10% of his Tesla Motors (NASDAQ: TSLA) stock.
Because folks on Twitter said so.
That news sent Tesla stock dropping as much as 4%.
Go here to discover Tesla’s secret EV partners for triple digit gains.
Musk asked his Twitter followers this question:
And the majority said he should sell 10% of his stock.
The situation is actually a little more complicated…
Tesla’s CEO is going to get a $15 billion tax bill. And he’ll be forced to sell shares of Tesla in order to make the tax payment.
Back in 2012 Musk received a new compensation plan.
Musk got a salary of $0. And he also agreed to take no cash bonus from the company. In exchange, he agreed to be paid in Tesla stock options.
Tesla issued the CEO stock options for 22.8 million shares. The options let Musk buy at $6.24 per share.
Tesla’s stock has soared 18,906% from the strike price on the options – in less than a decade.
Go here for my #1 EV tech stock to BUY NOW.
That means these shares will give him a $28 billion gain.
The gains from the stock options will be taxed at around 54%. That translates into a $15 billion tax bill.
Musk was going to be forced to sell Tesla stock no matter what.
The vast majority of Musk’s wealth is in Tesla Motors stock. And the CEO has already borrowed heavily against his stock holdings.
Selling 10% of his Tesla stock would provide Musk with $21 billion, more than enough to pay his taxes with some cash left over.
Musk loves being in the news. And bringing his “decision” to Twitter is just another way for him to engage with his growing audience.
With Musk SELLING Tesla stock – shares could be under pressure in the near-term.
Meanwhile, a small group of tech stocks are supplying the groundbreaking technologies to power EVs and self-driving cars.
And that’s why I’m loading up on these stocks now – while these shares are still dirt cheap.
Go here ASAP for urgent details on the top EV stocks to Buy Now.
Yours in Wealth,