Tesla stock slips as Musk sells another $3.58B of its shares

Associated Press--Shares of Tesla are sliding before the market open on Thursday after news broke that CEO Elon Musk sold another $3.58 billion worth of the electric vehicle maker’s stock this week.

The stock slipped to $153 in premarket trading. Musk, the new owner of Twitter, sold the shares from Monday through Wednesday, according to a filing posted Wednesday night by the U.S. Securities and Exchange Commission.

It wasn’t clear where the proceeds were being spent.