Elon Musk sells more of his shares in Tesla

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.