Soros Fund Management — the principal asset manager for the Open Societies Foundations, founded by left-wing billionaire and Democrat donor George Soros — has sold all of its stock in Elon Musk’s Tesla.
Soros Fund Management’s first-quarter holdings report with the SEC reveals that it no longer has any stock in Tesla, according to a report by Barron’s.
Elon Musk attends The 2022 Met Gala at The Metropolitan Museum of Art on May 2, 2022, in New York City. (Dimitrios Kambouris/Getty Images for The Met Museum/Vogue)
The foundation previously had roughly 130,000 shares, as well as some call options. But they are now nowhere to be found on its portfolio.
While sales from famous investors or large shareholders can move stock prices, this did not appear to have happened with Tesla, as the company’s stock is up about 0.4 percent in premarket trading, with futures on the S&P 500 being down 0.2 percent, the report noted. In morning trading, Tesla shares are actually up by about one percent.
The sale might have elicited a response from Tesla CEO Elon Musk, who on Monday tweeted that Soros “hates humanity.”
“You assume they are good intentions. They are not. He wants to erode the very fabric of civilization. Soros hates humanity,” Musk wrote.
You assume they are good intentions. They are not. He wants to erode the very fabric of civilization. Soros hates humanity.
— Elon Musk (@elonmusk) May 16, 2023
The Tesla and SpaceX CEO was responding to a leftist Twitter user who likened the billionaire Democrat donor to the Marvel Comics X-Men villain Magneto, but nonetheless defended Soros by claiming that he has “good intentions.”
Tesla’s stock has been volatile since it reported its first-quarter numbers on April 19, Barron’s reported.
Additionally, in 14 of the 18 trading days since then, Tesla shares moved more than one percent up or down with 10 days of losses and eight days of gains.
When looking at Tuesday’s trading, stock in Musk’s electric vehicle company is up about 35 percent so far this year, making a comeback after falling about 65 percent last year.
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