Some of the selling pressure Tesla investors have endured since the beginning of November has come from Musk. Musk has already sold 10.1 million shares since early November in coordination with exercising options to buy additional Tesla stock. Musk has pledged to sell 10% of his Tesla holdings, suggesting he could be dumping an additional 7 million shares in coming weeks.
The good news for Tesla investors is that the volatile stock has briefly dipped into bear market territory multiple times in recent years only to break back out to the upside shortly thereafter. After peaking at $900.40 in February 2021, the stock dropped back down to as low as $539.49 in March, a peak-to-trough decline of more than 40%.
