Twitter Stock Rises As Elon Musk Sells Tesla Shares, Here’s Why

Twitter shares are up by close to 5% in the pre-market The reaction is likely due to the news that Elon Musk has sold 7.92 million shares of Tesla. The total value of the sold shares is close to $7 billion. The sale took place between August 5 and August 9 and was revealed by the SEC filings.