Reply to post: Re: He was never going to buy it

Elon Musk considering 'drastic action' as Twitter takeover in 'jeopardy'

MachDiamond Silver badge

Re: He was never going to buy it

"It was to have a reason to cash in on his ridiculously over-valued Tesla stock."

He needed cash to exercise Tesla options he had that would have expired and the price per share was way up past stupid. I'm not sure if the option price was as low as some people posted but I'm sure it was quite a spread. Given how much the stock price increased, he needed to pay a bunch in taxes and paying taxes at that level is good for even more PR spin, so why not? I don't think that the options have expired yet, so he might be holding off on buying more Tesla stock until the price drops more or he's up against the deadline.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon