Yahoo Finance Live’s Julie Hyman and Brian Sozzi report that Elon Musk has sold over $4 billion in Tesla shares after agreeing to buy Twitter.

Video Transcript

JULIE HYMAN: Let's talk about Elon Musk, shall we? Another development that we learned about in its possible takeover of Twitter, we now know that Musk sold around $4 billion worth of Tesla stock two days after he agreed to buy Twitter. We learned all of this from a filing, by the way. He sold over 4.4 million shares on this Tuesday and Wednesday. This as we saw Tesla stock declining, and maybe this was one of the reasons why it was declining, following the news that Twitter's board had approved Musk's deal to take over the company. He did own around 17% of Tesla shares before selling this week.

On Thursday, yesterday, Musk tweeted, no further Tesla sales planned after today. Now, there might still be a filing dropping that lets us know what he possibly sold yesterday and the day before, right? Because you get a bit of a delayed filing for all of this. But of course, all of this happening. The backdrop is the Twitter deal. He has to come up with $21 billion in cash to pay for that.

And he also, of course, took out a $12 and 1/2 billion in loans, some of that staked against, presumably, his Tesla shares. And if the price falls, he's going to have to put up even more collateral, if the price falls more. Tesla shares, by the way, have wiped out about $275 billion worth of value since he first disclosed that 9% stake in Twitter.

BRIAN SOZZI: You know who'd pay for more for Amazon Prime? Elon Musk. He would gladly pay more there, Julie. A couple hundred dollars because he has--

JULIE HYMAN: He doesn't even have a fixed address. [INAUDIBLE] Amazon Prime?

BRIAN SOZZI: I'm sure he does. Well, let me just add this. You know, it's-- what is it? Becoming very clear this month. I think Tesla's shares down a little more than 20% so far in April. Tesla is no longer just an auto investment. It was very easily to-- easy to value the company. You value out how much future cash flow they might earn over the next five or six years. But now there's another component here. And that is, in fact, what he plans to do with Twitter and how many shares he pledges as part of that investment here. Just, it has gotten a lot more complicated to stay long a Tesla, just given this new twist in his own life.

JULIE HYMAN: There's one sort of tertiary story I want to talk about when we're talking about Tesla as well. This decline in Tesla hasn't just been potentially bad news for Elon Musk. It's been bad news for this little ETF, the Ark Innovation ETF, which is now off some 48% year to date. And of course, if you look over the longer term, it's down even more. Tesla had been one of the bright spots in the portfolio, even as so many other stocks in the ARKK fund were rolling over. But now if you look at the top holdings in this fund, you got Tesla. I don't know if we have a year to date chart of these holdings--