Investor Gary Black of The Future Fund LLC disputed speculation Thursday that Elon Musk was selling Tesla Inc.
(NASDAQ:TSLA) shares, arguing that company lawyers would be unlikely to allow insider sales during Tesla’s blackout window before second-quarter earnings.
Black Says Musk Is Likely Not Selling Black was responding to a post that claimed Tesla’s sharp $40 drop looked unusual after a major delivery beat and suggested Musk might be selling shares to fund another purchase.
"I don’t believe it’s Elon selling.
Even with a 10b5-1 plan I doubt the lawyers would allow him to sell in the blackout window which generally starts two weeks before the quarter closes and ends the day after earnings 7/22," Black wrote on X.
