Tesla CEO Elon Musk presented the first batch of made-in-China cars to ordinary buyers on January 7, 2020 in a milestone for the company’s new Shanghai “giga-factory”, but which comes as sales decelerate in the world’s largest electric-vehicle market.
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The Saudi Arabia Public Investment Fund dumped 39,000 shares of Tesla in the fourth quarter of last year, a new filing Tuesday revealed.
That amounts to 99.5% of its holding in the stock, according to InsiderScore.com.
The selling happened before Tesla’s massive rally in the new year. Shares of the electric carmaker soared more than 110% in 2020 alone.
This is a developing story. Check back for updates.
This article was originally published by Cnbc.com. Read the original article here.