Elon Musk Sells $5 Billion in Tesla Stock as Competitors Put on the Pressure

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 12 November 2021

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

DB-Nov 11,2021: Elon Musk sells over 4.5 million Tesla shares this week after posting a poll on Twitter about whether he should unload a tenth of his stake in the company and spurring controversy about taxation of the ultra-wealthy. Meanwhile, Rivian’s IPO, one of the US’s largest since Facebook, lifts off with an almost $88 billion valuation at market close on Wednesday. The IPO’s positive reception by investors spilled over into other EV stocks such as Nio and Fisker. Autonomous vehicle startup Aurora also had made its trading debut last week, the first AV company to go public, after the closure of its merger with a SPAC. With Tesla’s rivals cranking up the heat, Tommy Thornton, founder of Hedge Fund Telemetry, discusses his forward outlook for this burgeoning and increasingly competitive industry and for Tesla. Thornton also touches on gold, retail, and Chinese tech. Interviewed by Maggie Lake. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3C7kJb6 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:35.6	Hello, welcome to the Real Vision Daily Briefing. It's November 12, 2021.
0:39.8	Happy Veterans Day. Thanks to all of our former and current service members who may be joining us.
0:45.2	I'm Maggie Lake here with Tommy Thornton founder of Hedge Fund Telemetry.
0:49.8	Hey there Tommy, are you?
0:52.0	I'm good. I'd like to also say Happy Veterans Day to everyone out there.
0:58.0	Thank you for all that you do and what you've done in the past enables all of us to do
1:04.0	and what we do in finance as well.
1:08.0	Live very wonderful lives.
1:11.0	Yeah, live the lives we live, absolutely.
1:14.0	Bond markets were closed today in observance of Veterans Day,
1:17.2	but stocks were open.
1:18.2	Russell, the out performer today, up nearly 1%, now second S&P positive, the Dow however fell.
1:24.8	Well, gold extended its winning streak up more than three quarters of 1%.
1:29.0	You know, Tommy, a lot of the action though for all we talk about any of the markets or whatever we decide to
1:34.2	sort of touch on in that quit snapshot.
	...

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