Shares in an electric vehicle manufacturer Tesla Inc TSLA are down 71.7% year-to-date, making the stock one of the worst performers of 2022 across the entire S&P 500. Controversial CEO of Tesla Elon Musk is among the sellers and sold about $40 billion worth of Tesla stock last year. Musk recently said he wouldn’t be selling any more Tesla stock for a while, but it’s certainly not the first time Musk has said he’s done selling.

What happened? On December 22, 2022 Musk said in a Twitter Spaces chat that he won’t be dumping Tesla stock for the foreseeable future.

“I’ll sell shares first, I don’t know, probably in two years. Definitely not next year and probably not the year after,” Musk said.

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Musk’s past promises: Musk has repeatedly made similar statements over the past year.

On December 22, 2021, Musk tweeted that it was him “almost finished” Selling Tesla stock after selling nearly 1 million shares worth about $1 billion. Ultimately, Musk sold about $22 billion worth of Tesla stock in 2021.

It resumed sales in April 2022, dumping another $8.4 billion in Tesla stock. on 04/28/2022, Musk tweeted “No further TSLA sales are planned after today.”

Musk then sold $6.9 billion worth of Tesla stock in August 2022. When asked by a Twitter follower if he was done selling shares, Musk said answered “Yes” on Aug. 9, 2022, adding that it’s “important to avoid a fire sale of Tesla stock” linked to his $44 billion Twitter buyout.

Musk sold another $3.9 billion in Tesla stock and more in November 2022 $3.6 billion Value of Tesla shares in December 2022 before making his latest promise to stop selling on December 22nd.

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Petrol Gas Take: Tesla stock didn’t react much to Musk’s recent promise to stop selling his Tesla shares, and the market seems to have learned to…