After a recent Twitter Poll, Elon Musk has now sold off over $12Billion worth of Tesla stock which has made the overall stock price of the company tumble from $1234 down to $958 in under 30 days. Whilst Elon is personally getting richer, his investors are losing money.

Selling off stock as the owner always leads to stock prices tanking but to do it so publicly and frivolously can have an even bigger impact which is what we are seeing in the market today. With a $1Trillion market cap we may see Tesla lose their new T if this downward trend continues.

Image courtesy of Finance.Yahoo.com

Tesla has been bouncing off the $1000 support level but after breaking $990, $980 and now even $970 and $960 successfully we might even see it get below $900 or who dares say it $800 by the end of 2021.

What will help Tesla stock is for them to continue to deliver great products, meet demand and to provide its customers with the best EV’s on the market. If Tesla face supply chain issues or lose a major deal we could even see this stock half.