Tesla stock hits 2-year low after Musk sells $4b worth of shares

Tesla stock hits 2-year low after Musk sells $4b worth of shares

FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike Blake/File Photo

Tesla Inc shares slid to their lowest level in nearly two years on Wednesday after Chief Executive Elon Musk disclosed he sold another $3.95 billion worth of shares in the electric-vehicle maker.

Shares ended down 7.2% at $177.59, the lowest level since Nov. 23, 2020.

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