Tesla shares are trading at $122, with the stock up about 8% Thursday. Why Tesla is tankingA popular misconception has emerged about Elon Musk and Tesla: The megabillionaire’s love affair with Twitter is the main reason Tesla shares have lost so much value this year. Musk, Tesla’s largest shareholder, has sold $23 billion worth of Tesla shares since his interest in Twitter became public in April. On a Twitter Spaces call last week call, Musk promised he was done selling shares of Tesla (TSLA) stock until at least 2024, if not beyond. But he hasn’t lived up to a previous promise in April that he was done selling Tesla (TSLA) shares, selling $14.4 billion of that stock since that time.

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