Tesla Director Antonio Gracias Has Now Dumped Almost All Of His Personal Stock

Despite no real formal updated delivery guidance for Q2 and yesterday’s conveniently leaked article to electrek claiming “new record ‘sales numbers'”, Tesla board member and long time friend of Elon Musk, Antonio Gracias, hasn’t stopped spraying the open market with his personal stock holdings.

A Form 4 filed on 6/5/2019 shows that Gracias again blew out stock between $177.70 and $185.70 after exercising options. As some noted, this Form 4 says that Gracias now has just 466 shares left personally, and that his remaining shares are held in funds.

As you can see from the below chart, Gracias’ sale follows a long line of insider selling from Tesla executives since late last year.

Gracias and other long-time top Musk lieutenant, JB Straubel, have been selling, collectively, over $50 million in stock since last November. Reminder, we wrote days ago that Straubel’s office presence at Tesla was reported to be “scarce”. 

Chart source: @Track_Tesla

Others noted that the pace that Gracias is selling at would leave his funds with no stock left to sell by “early 2020”. 

Naturally, the skeptics at $TSLAQ on Twitter had lots to say about the sale: 

Others noted the stunning amount of stock Gracias has sold, in aggregate, since late last year: 

The board of directors and the company itself can do everything they want to try to and posture to make it look as though everything is fine at the company, but the stock sales from insiders at Tesla continue to allude to a different story. 

And who are the bagholders for these sales? Despite retail traders on Robinhood religiously buying the dip…

…there was one other person who recently agreed to buy stock as part of the company’s recent financing.

 

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Author: Tyler Durden

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