• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Equities Stock Market

Tesla stock rallies back above $1,000 despite Elon Musk’s sell-off

Ajibola Akamo by Ajibola Akamo
November 17, 2021
in Stock Market, Tech News
Elon Musk, Tesla
Share on FacebookShare on TwitterShare on Linkedin

Tesla, America’s biggest electric car company saw its stock rally yesterday, after trading below the $1,000 trading zone, as a result of the recent sell-off of Tesla shares by CEO, Elon Musk.

After Musk sold off approximately $5 billion worth of shares (about 4.5 million shares) as of Thursday last week, a filing last week Friday revealed that the electric car maker sold another 1.2 million shares of Tesla stock. In a filing yesterday, it was revealed that the SpaceX boss sold 934,091 shares after exercising options to buy 2.1 million stocks at $6.24 each. This brings his total sales so far to a total of about 7.3 million Tesla shares for a grand total of $7.8 billion.

This caused the share price of Tesla to drop below the $1,000 trading range to trade for as low as $978.60 on Monday. However, the bulls took the day as the stock currently trades $1,048, up 3.42% for the day, as of the time of this writing.

RelatedStories

Elon Musk’s xAI raises $10 billion in debt and equity financing to accelerate AI innovation

Elon Musk’s xAI raises $10 billion in debt and equity financing to accelerate AI innovation

July 1, 2025
Billionaire Elon Musk’s xAI to launch Grok 3 chatbot on Monday 

Elon Musk expresses regret over social media jibes against Trump 

June 11, 2025

Read: Elon Musk suffers worst wealth drop, loses $35 billion as Tesla investors get jittery

What you should know

Tesla was not the only electric car company to rally as the entire sector followed the same trend. Other electric car manufacturers like Rivian Automotive and Lucid Group, rallied alongside Tesla, up 9.15% and 19.03% respectively.

Rivian’s stock price rally means that electric vehicle (EV) maker share price is now up over 100% since its initial public offer last Wednesday, putting its market capitalization at $139.04 billion as of the time of this writing. The stock briefly overtook Volkswagen, making the company the world’s third most valuable carmaker.

Read: Elon Musk’s tweet costs him $9.32 billion dip in net worth

Lucid also surged after it revealed that its reservations for its cars rose to 13,000 in the third quarter and said it is confident it will produce 20,000 of its upcoming Lucid Air sedans in 2022. As of the time of this writing, its market capitalization currently stands at $83 billion, making it more valuable than Ford.

The total sale by the Tesla boss fulfils almost half of his pledge on Twitter to sell 10% of his stake in Tesla.

Craig Erlam, Senior Market Economist at OANDA stated, “There’s still plenty of buying interest because I still think ultimately, investors are viewing this as a phase and viewing pullbacks as an opportunity. If you ask me where the share price is going to be six months from now, 12 months from now? I’d say it’s more likely to be 20% higher than 20% lower.”

Tags: Elon MuskTesla
Ajibola Akamo

Ajibola Akamo

Ajibola Akamo is an Investment Analyst, Financial Analyst, Economist and Accountant. You may contact him via his email ajibolaakamo@yahoo.com

Related Posts

Elon Musk’s xAI raises $10 billion in debt and equity financing to accelerate AI innovation
Sectors

Elon Musk’s xAI raises $10 billion in debt and equity financing to accelerate AI innovation

July 1, 2025
Billionaire Elon Musk’s xAI to launch Grok 3 chatbot on Monday 
Billionaire Watch

Elon Musk expresses regret over social media jibes against Trump 

June 11, 2025
Meta billionaire, Zuckerberg, Bezos, 2 others are $50 billion richer in 24 hours 
Billionaire Watch

Meta billionaire, Zuckerberg, Bezos, 2 others are $50 billion richer in 24 hours 

May 13, 2025
Elon Musk, Jeff Bezos, other billionaires lose $300 billion in Trump’s first 100 days  
Billionaire Watch

Elon Musk, Jeff Bezos, other billionaires lose $300 billion in Trump’s first 100 days  

April 30, 2025
Elon Musk, Tesla
Billionaire Watch

Elon Musk’s net worth rises by $18 billion as Tesla shares appreciate 

April 26, 2025
Neuralink, Elon Musk
Sectors

Elon Musk’s Neuralink to raise $500 million at $8.5 billion valuation—Report  

April 24, 2025
Next Post
Very few nations permitted to issue their Crypto - IMF, International Monetary Fund IMF,Nigeria’s GDP forecast for 2020 to drop - IMF 

IMF warns that eNaira may reduce demand for deposits in commercial banks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • GETMEDCO and Sterling Bank forge groundbreaking partnership to elevate healthcare access  
  • Beta Glass 51st AGM: Doubles dividend to N1.76Bn as PAT surges 112% in 2024  
  • Naira stuck at N2,200/£ as British pound faces correction  

Follow us on social media:

Recent News

GETMEDCO and Sterling Bank forge groundbreaking partnership to elevate healthcare access  

GETMEDCO and Sterling Bank forge groundbreaking partnership to elevate healthcare access  

July 3, 2025
Beta Glass 51st AGM: Doubles dividend to N1.76Bn as PAT surges 112% in 2024  

Beta Glass 51st AGM: Doubles dividend to N1.76Bn as PAT surges 112% in 2024  

July 3, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics