Tesla founder and CEO Elon Musk is selling stocks… Should you sell too?

Elon musk saw that Tesla stock is too high and he decides to sell his shares leaving investors to wonder if they should sell too. The CEO and founder of Tesla said he wants to sell 10 percent of his tesla stocks via Twitter. Since Elon owns over $200 billion worth of Tesla stock, he would have to sell 20 billion worth of stocks to reach 10 percent sales.

According to CNBC, Elon Musk has started selling Tesla stocks and he sold $1.1 billion worth of stocks already.  Records show that Elon already planned to sell $1.1 billion worth of stocks since September, then he shared on Twitter that he would sell another $20 billion worth of stocks.  

Tesla stocks lost 15% per share when Elon began selling his shaes but the sock rebounded 4% today.

“According to financial filings out Wednesday, CEO Elon Musk is selling a block of Tesla shares via a plan that he set in motion on September 14 this year. The sales amount to more than 930,000 shares worth over $1.1 billion. He still holds more than 170 million shares”-  CNBC 

If Elon Musk is selling then the best thing for investors to do is to take some off the table by selling some shares. Tesla stocks are selling at $1,067.95 and this is a good time to sell some shares when Tesla (TSLA) stock is very high.