Stock Market Down: There was a big decline in the stock market last week amid concerns of Kovid-19 in China, Japan and worldwide. Investors have faced huge losses. Last week, investors in the Indian stock market lost more than 19 lakh crores during 7 days. Also, there was a loss of Rs 8 trillion in the last three months. Meanwhile, Elon Musk has given a great advice to the investors.
Earlier this year, Elon Musk bought Twitter Inc for $ 44 billion (Twitter Deal Price) and repaid a debt of $ 13 billion on the company. However, after this there has been a huge decline in Tesla Shares. After buying Twitter, Musk has disposed of about $ 40 billion of Tesla shares to repay the debt.
What advice did Musk give to investors
After the sale of Tesla shares, Musk reiterated that he would stop selling shares this week, adding that the pause could last two years or more. In the All-In podcast, the billionaire advised investors, saying that I would really advise people not to take margin loans in a volatile stock market, because in such a situation your problem may increase. At the same time, he said that attention should be paid to some concrete things in the falling market.
Musk will not sell Tesla shares for 18 to 24 months
Elon Musk said during the Twitter Spaces group that he is not yet considering selling Tesla shares. He will not sell any Tesla shares for the next 18 to 24 months. Significantly, the world’s second richest man had sold shares worth $2.58 billion last week. Since April, Elon Musk has sold shares worth a total of $ 23 billion.
Searching for a new Twitter CEO
Significantly, Elon Musk had once again come in the discussion about resigning from the post of Twitter. At the same time, it has also been said that he is looking for a new CEO for Twitter and soon Twitter may get a new CEO.
