Tesla Shares Fall 15% After Investors Dump Holdings

Derek Kreindler
by Derek Kreindler

Tesla Motors share price feel by roughly 15 percent Monday as company insiders rushed to dump their shares after the expiration of a 180 day limit on selling their stock holdings.

The shares being sold were previously not available on the open market, and were reportedly offered to investors and other insiders as a form of compensation. Tesla’s stock rose more than 40 percent since its debut towards the end of June, and the company received $465 million in loans from the Department of Energy to help develop its Model S sedan.

As of 11:30 AM Tuesday, Tesla’s share price was steady at $26, up from Monday’s close of $25.55

[Source: Automotive News]

Derek Kreindler
Derek Kreindler

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