Elon Musk sells more of his shares in Tesla

Elon Musk offloaded another batch of shares of the iconic electric carmaker that he leads on Thursday.

The trust through which the chief executive officer of Tesla owns his stock sold a total of 639,737 shares on 11 November via a flurry of transactions, regulatory filings showed.

Earlier in the week, he sold approximately $5bn-worth, just over a fifth of which was to cover tax obligations.

During the previous weekend, Musk had signalled again his intention, on social media, to sell 10% of his shares.

Musk had flagged his intention to sell shares previously, via a pre-scheduled plan implemented on 14 September, regulatory filings showed.

Including stock options, Musk held a 23% stake in Tesla prior to the sales under tha plan.

As of 1535 GMT, shares of Tesla were trading lower by 1.97% to $1,042.10.