"Tesla shareholders are facing yet another rough patch as key insiders continue to sell off their shares at an alarming rate. This time, it was board member James Murdoch who added to the ongoing turmoil. On Monday, the company revealed that Murdoch had offloaded a significant amount of stock, worsening the already declining situation.
Murdoch exercised stock options for 54,776 shares, receiving them as part of his compensation for serving on the board. However, instead of holding onto them, he immediately sold them off for $13.2 million in cash. This transaction contributed to Tesla experiencing its worst single-day stock decline since September 2020.
Murdoch wasn’t alone in his decision to sell. Over the past few weeks, other high-profile figures connected to Tesla have also cashed out their shares. Chairperson Robyn Denholm, along with Elon Musk’s younger brother, Kimbal Musk, and Chief Financial Officer Vaibhav Taneja, recently sold their stock as well. These moves have left dedicated retail investors feeling uneasy, as they rely on key figures in the company to show faith in the stock rather than selling at a low point."
Murdoch exercised stock options for 54,776 shares, receiving them as part of his compensation for serving on the board. However, instead of holding onto them, he immediately sold them off for $13.2 million in cash. This transaction contributed to Tesla experiencing its worst single-day stock decline since September 2020.
Murdoch wasn’t alone in his decision to sell. Over the past few weeks, other high-profile figures connected to Tesla have also cashed out their shares. Chairperson Robyn Denholm, along with Elon Musk’s younger brother, Kimbal Musk, and Chief Financial Officer Vaibhav Taneja, recently sold their stock as well. These moves have left dedicated retail investors feeling uneasy, as they rely on key figures in the company to show faith in the stock rather than selling at a low point."
