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according to two Form 4 documents submitted on August 9 published on the website of the US Securities and Exchange Commission (SEC), Tesla CEO Musk reported on August 5 local time to sell 3.3 million special shares. Sla stock, valued at nearly $2.91 billion. The deal reduces Musk's direct Tesla stake to about 160 million shares , according to Bloomberg .

In the early morning of August 5th, Beijing time, Tesla held its annual general meeting of shareholders at the Texas Gigafactory, where 13 proposals were voted on. Among them, the fourth proposal, that Tesla will conduct a 3-to-1 stock split, was approved by the shareholders meeting, which means that Tesla will achieve a second stock split within two years. Tesla’s share price has not seen a significant increase after the market, but since the announcement of the second quarter earnings report on July 21, Tesla’s share price has risen by more than 20%.

IT House learned that Musk had previously expressed his willingness to acquire Twitter for $44 billion, and investors viewed Musk’s sale of Tesla shares as his financing for the acquisition of Twitter. But now Musk is no longer interested in Twitter, but investors still believe that Musk may further reduce his Tesla stock. Mike Lucas, CEO of TrueMark Investments, has previously said that Musk may sell Tesla shares regardless of the outcome of the Twitter deal.