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Could Musk’s Recent Sale Of $6.9B Tesla Shares Be A Sign Of A Potential Twitter Deal? – $TSLA $TWTR $SPY $QQQ

By John F. Heerdink, Jr.

Reportedly, Tesla (TSLA) CEO, Elon Musk recently sold $6.9 billion worth of his Tesla shares. Some analysts and investors are suggesting that this recent move might be implying that these funds could be used to finance the outstanding and highly publicized Twitter (TWTR)  deal if the EV giant loses a legal battle with the social media platform, due for trial on Oct. 17.

In early July, Musk withdrew his April 25 agreement to buy Twitter for $44 billion. The social media giant has sued Musk to force him to complete the transaction, dismissing his claim that he was misled about the number of spam accounts on Twitter.

“In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk tweeted.
Musk also sold $8.5 billion worth of Tesla shares in April and had said at the time there were no further sales planned. However, the legal experts put forward that if Tesla is forced to complete the acquisition or settle the dispute with a high penalty, Musk was likely to sell more shares.
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(Read Original Story: UPDATE 3-Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal in Reuters)


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