Elon Musk Says He Won’t Sell Tesla Stocks

December 23, 2022

Story: Jai Pratap

In a Twitter space Thursday, Elon Musk said that he will not sell any more Tesla shares until next two years.

Twitter head said that the economy will be in a "serious recession" in 2023 and demand for big-ticket items will be lower.

Tesla stocks saw a minimal rise at $129.23 in after-hours trading on Thursday after a massive 8.9 percent drop in regular trading hours.

Elon Musk lost nearly $8 billion in one day as Tesla shares witnessed a significant drop.

As reported earlier, Tesla announced to freeze hiring and plans to lay off more employees in the first quarter of 2023.

2022 was the worst year for Elon Musk in terms of his net worth as he lost over $120 billion.

Musk sold shares worth about $3.58 billion earlier this month, causing a panic among Tesla investors.