LCID - Tesla tanks on insider selling worries and takes some EV peers along for the ride

Tesla (NASDAQ:TSLA) is sharply lower as the sale of $109M worth of TSLA stock by Kimbal Musk adds to the anxiety over the impact of brother Elon Musk potentially selling 10% of his holdings. While it was been speculated for a long time that Elon Musk would need to sell shares at some point to cover tax bills, Michael Burry is also pointing to the personal loans Musk took by using TSLA stock as collateral, although in typical fashion that tweet has now been deleted. Burry also worked in a Dutch tulip bulb reference to describe the current stock market. Shares of TSLA are down 10.40% on the day, but are still more than 40% higher from their level six weeks ago and are showing a 65% YTD gain. The electric vehicle is having a rough day with the mother ship struggling. Arrival (ARVL -26.6%) is the biggest declines after

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Tesla tanks on insider selling worries and takes some EV peers along for the ride