New York – The president of Tesla sold more than $ 230 million of the company’s shares since Elon Musk’s support to Donald Trump was activated boycots and protests Against your cars, sending your profits and your sharing price.
More than half of Robyn Denholm’s cash tour came from sales in the first four months of this year, since Tesla’s shares fell into a third, according to presentations reviewed by Associated Press. In total, he downloaded hundreds of thousands of shares, more than half of his holdings as dictated by a pre-organized sales plan presented with regulators when Musk began adopting the right-wing policy.
Denholm presented that plan on July 25, the day Musk supported Trump for president.
Denholm’s profits were probably also huge. This is because many of the actions it sold had been acquired through the so -called options that Tesla granted years before, given the prices of recent shares, they allowed him to buy with a deep discount, according to data from the FACTSET research provider. Almost a million shares acquired through options were purchased for $ 25, less than a tenth of the market price for much of the last nine months.
The AP contacted both Tesla and Denholm, but did not receive an immediate response.
A Denholm statement to The New York Times, which previously reported on the sales of privileged information, said that the value of the shares of the holdings of the directors of Tesla has jumped because the action itself has triggered, creating “outstanding yields” for all shareholders.
It is not clear why Denholm decided to get so much participation.
Executives and directors use predetermined sales schedules as a way of telling investors that their sale is not based on internal information, which is illegal, or necessarily a sign that they have become pessimistic about a company.
Denholm is not the only internal Tesla who has been selling. The financial director and other directors have downloaded $ 189 million in shares in the same nine -month period, according to FACTSET data.
Tesla’s actions shot after Trump was elected in November in the hope that the close relations of the president -elect with Musk will translate in less regulatory scrutiny and greater profits.
But the role of Musk as the head of the government that reduced the costs for Trump and his comments that support extreme right -wing politicians in Europe have triggered a reaction among cars buyers, and Sales have sunk along with their shares.
Tesla reported last month that profits in the first three months of the year fell 71%.
The action shot again after Musk, the company’s executive director and the largest shareholder, said it would be Go from your work from Washington To spend more time in the electric car manufacturer.
Tesla closed to $ 347 per share on Wednesday, 4% more for the day and more than 50% since its April minimum.
