“Former Tesla SVP Drew Baglino is selling $181.5 million worth of stock, SEC filing says”
May 1, 2024
“
- Former Tesla SVP Drew Baglino, who announced his resignation earlier this month, is selling 1.14 million of his shares in the company worth $181.5 million, according to a filing with the SEC.
- Tesla is in the midst of a broad restructuring, cutting more than 10% of its global headcount and dedicating more resources to self-driving technology and robotaxi development.
- CEO Elon Musk said this week that, “If somebody doesn’t believe Tesla’s going to solve autonomy, I think they should not be an investor in the company.”
…”
His sell of stock might not be long term. (over five years) There’s always the possibility of him just wanting to avoid the upcoming stock market crash. It’s going to happen and can’t be avoided. Once the housing market collapses stocks will follow shortly after. Actually stock may actually collapse first because of insider trading. They’ll know when crap is about to hit the fan.