Tesla shares up despite Musk selling $1 billion in stock, Gold drops to 3-week low [Video]

Tesla shares up, despite Musk selling $1 billion in stock

Tesla’s share price was trading higher on Wednesday, despite the news confirming that Elon Musk had sold more stock in the company.

It was reported that Musk had sold $1 billion worth of shares on Tuesday, which is the third time in recent weeks, the company’s founder has liquidated some of his holdings.

This now brings the total value of his share sale to $9.85 billion, all of which has been in the past two weeks.

Musk began selling shares in the electric vehicle maker after he held a twitter poll, asking his followers to vote on if he should sell stock, to meet tax obligations.

Despite the recent sales, Musk still currently holds close to over 169 million shares in the company.

$TSLA was trading 1.43% as of writing.

Gold drops to 3-week low, as jobless claims hits lowest since 1969

Gold prices fell to the lowest level in the last 3-weeks, as data from the United States showed that jobless claims fell to a pre-pandemic low.

Figures from the Labor Department’s initial jobless claims report, showed that the number of Americans filing for unemployment benefits fell by 71,000 last week.

This drop saw claims recorded at 199,000 for the week that ended November 20th, versus market expectations for 260,000 applications.

XAUUSD fell to an intraday low of $1,778, which is the lowest level gold prices have traded since November 5th.

Both the benchmark S&P 500, and NASDAQ index were marginally higher on the news.