Elon Musk’s latest stock sale could leave Twitter investors holding the bag.
The Tesla CEO sold 7.92 million shares of Twitter, worth about $687 million, on Tuesday, according to a regulatory filing. The sale comes just two weeks after Musk bought a 9.2% stake in the company for $2.9 billion.
Musk’s sale has raised concerns that he is losing faith in Twitter’s future. The company’s stock price has fallen by more than 10% since Musk sold his shares.
Analysts say that Musk’s sale could hurt Twitter’s long-term prospects.
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