Elon Musk’s brother Kimble made more than 8 million two days before he bought Tesla shares

Elon Musk's brother Kimble made more than 8 million two days before he bought Tesla shares

Elon Musk’s younger brother, Kimball, appears to be making more than $ 8 million on Tesla’s stock this week, when he used stock-buying options, then he sells those shares 6.5 times the price he paid.

Good time for Board member Kimball, As the shares were sold on Tuesday, with some sales above the record closing price of 498.32 on Monday.

Stock TSL ,.
+ 2.78%
To replace the previous intraday loss of 8..6% on Friday at 2.18..38 dollar. sharp% increased sharp bounce. The stock slipped to a three-day losing streak, but fell 16.1% even after Monday’s record close.

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The 5-for-1 stock split sold out this week after it went into effect on Monday, and Tesla announced a ઓફ 5 billion stock offer and a major shareholder reduced its stake.

Don’t miss out:Tesla’s stock sank to remove the correction again after the revelation of another big seller

On September 1, Kimball Musk sold 36,375 T Tesla shares at an average weighted price of $ 9. The average is ડો 9, according to MarketWatch data Form 4 filing with the Securities and Exchange Commission Entered late Thursday night. The filing shows a number of trades done at prices ranging from about $ 471.33 to about 50 2,502.01.

After closing at 8,498.32 on Monday, the stock reached an all-time intraday high of 502.49 in the first minute of trading on Tuesday, hitting a low of $ 470.51 around 10 a.m. East, then bounced at 10:30 a.m. and reached 2 502.28. 7 closed down 7.7% at 475.05.

Factset, Marketwatch

The September 3 filing then showed that Kimble Musk acquired 20,375 Tesla shares at $ 74.17 as part of a trading plan adopted on February 20, 2020.

For the 20,375 shares he sold on Sept. 1 and bought two days later, he made .3 8.32 million in the deal. If it buys back the additional 16,000 shares it sold at its current price, it could earn about 49 1.49 million in the deal.

Meanwhile, according to Factset, the volume-wide average price (VWAP) of Tesla shares on Sept. 3 was $ 412.46. If Kimball Musk had sold the shares on the same day he received them, as fellow board member Kathleen Wilson-Thompson did on Monday, and omot Tomotiv president Jerome Gillen did on Tuesday, he could have made about 8 6.89 million, or about Did 1.43 million less than that.

Factset, Marketwatch

Kimble Musk, co-founder of Kitchen, has been on Tesla’s board of directors since April 2004. He is a member of the Board’s Compensation, Corporate Governance and Disclosure Control Committee. Its Returns to Tesla board in 2019 The cash was 20,000, in the form of cash fees.

After this week’s trading, Kimble Musk still owns 638,240 Tesla shares, the filings show, which was about 7 267.99 million at Friday’s closing price.

Despite the pullback, the stock has risen 400.0% so far this year compared to the SPX of the S&P 500 index.
-0.81%
Gain of 6.1%.

Another insider earned more than 6 6 million from the Tesla stock trade

Tesla also revealed late Thursday night about the business done by insider Jerome Gulen, which cost him about 4 6.4 million.

a Form 4 filing As part of a trading plan issued on February 20, Gill acquired 15,000 shares on September 1 at $ 51.64. On the same day, it sold 15,000 shares at a weighted average price of about $ 479.00. Sales ranged from $ 471.33 to 50 2 502.01. The sale of Kimball Musk has the same range of prices implemented.

Gill joined Tesla in November 2010 And has been president of Automotive since September 2018.

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