In a capitalist country, the owner of shares can sell those shares if they feel like it. Musk may be screwing the shareholders, and selling that many shares will tank the price even further, but if he sells enough shares to give up control of the company, that could be the best thing that could possibly happen for Tesla. Get rid of the insane CEO and put a rational and decent human being in his place. Note also that the real value of Tesla is its physical plant and expertise and workforce. If the share price doesn't recover after a while, it was probably overvalued.
(I own shares of TSLA, and watching the price plummet has been disturbing and disappointing. But I would love it if this company changed leaders.)
The article cited above in post 5637 says that Musk is using Tesla as his personal ATM machine. Well, Musk owns those shares. He has a right to sell them. And since they pay no dividends, selling shares is the only way to get income from owning them.
(I own shares of TSLA, and watching the price plummet has been disturbing and disappointing. But I would love it if this company changed leaders.)
The article cited above in post 5637 says that Musk is using Tesla as his personal ATM machine. Well, Musk owns those shares. He has a right to sell them. And since they pay no dividends, selling shares is the only way to get income from owning them.