Late last year, after a wave of news reports pointing to sagging demand for his company’s vehicles, Tesla Inc. Chief Executive Elon Musk sold almost $3.6 billion of his shares in the electric-car maker.
On Jan. 2, Tesla announced fourth-quarter vehicle deliveries that were significantly below the company’s most recent forecast to investors. The news sent Tesla’s stock price
TSLA,
+2.34%
plunging when markets opened the next day.