Elon Musk has sold nearly $40 billion of Tesla stock in under 14 months. That figure dwarfs the automaker's profits and rivals its underlying value.
stock since November 2021. That figure dwarfs his electric-vehicle company's profits and is pretty close to the underlying value of the business.
Bloomstran was referring to the"additional paid-in capital" and"retained earnings" figures on Tesla's third-quarter balance sheet. Those represent the total amount the company has raised by issuing stock, and the profits it has hung onto since it was founded. Bloomstran's remark underscores the massive scale of Musk's stock sales, relative to the size of Tesla's business.
Since then, Tesla shares have more than halved in value. That reflects an investor exodus from growth stocks in the face of historic inflation, soaring interest rates, and a looming recession.
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