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Why Is Tesla Stock Down Today?

Why Is Tesla Stock Down Today?

Tesla Inc. shares were down 3% at midafternoon Monday after the electric-vehicle maker’s chief executive and largest shareholder, Elon Musk, indicated he might sell 10% of his holdings following a weekend poll on Twitter . Here is a look at what is going on. 

What happened

Mr. Musk asked Twitter users on Saturday whether he should sell 10% of his Tesla stock to pay taxes. Mr. Musk, a billionaire, prefaced the question by saying that “much is made lately of unrealized gains being a means of tax avoidance.”

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