Big Short’s Michael Burry Thinks Elon Musk ‘Just Wants to Sell Tesla’

Reuters

Tesla’s market value falls below $1 trillion after Musk tweets

Tesla Inc’s stock extended its recent selloff on Monday, pushing the electric-car maker’s market value below $1 trillion as investors reacted to CEO Elon Musk’s recent share sales of a combined $6.9 billion. Tesla’s stock dropped 4.2% to about $989, leaving the company’s market capitalization down about $230 billion since before Musk began selling shares last week. The latest stock decline follows a Sunday dispute on Twitter between Musk, the world’s richest person, and Bernie Sanders after the U.S. senator demanded that the wealthy pay their “fair share” of taxes.