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Tesla major shareholder Musk: "Serious recession"
Photo: Aly Song / REUTERS
Tesla boss Elon Musk does not want to sell any more shares in the electric car manufacturer for the next two years.
In an audio chat on Twitter Space, Musk said he expected the economy to slide into a "serious recession" next year and demand for cars to be low.
Musk had announced several times in the past that he would not sell any more Tesla shares, but then he did.
The Twitter new owner and Tesla CEO sold shares in the electric car maker worth over $3.5 billion last week.
With the latest sale, Musk sold shares in the electric car maker with a total value of almost $40 billion last year.
Shares in Tesla, the world's most valuable automaker, have been among the worst-performing stocks among major automakers and tech companies this year.
Investors fear that Musk's involvement with Tesla could suffer from the takeover of the short message service.
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