Tesla and Musk did not immediately respond to an emailed request for comment from Reuters after business hours. Musk’s stake in Tesla, at 13.4%, is down from 17% a year ago, according to Refinitiv data.
Tesla shares this week have lost nearly 16%, making for a year-to-date decline of 57.3%, underperforming the automaker sector and the Nasdaq, which is down about 30% this week. year. The price of the titles of the automotive company is at a minimum of almost two years.
“It will start to tire investors,” said Tareck Horchani, head of brokerage operations at Maybank Securities in Singapore.