Musk vows to not sell Tesla stock for two years

Photo by: Elon Musk - Twitter
Photo by: Elon Musk - Twitter

(Fremont, CA) -- Elon Musk says he will not sell more of his Tesla stock for at least two years.

The CEO of the electric car company made the announcement Thursday on Twitter Spaces.

Musk predicted a "serious recession" in 2023, and expected demand for big-ticket items to be lower.

He said, "I won't sell stock until, I don't know, probably two years from now," and "probably not the year thereafter."

His comments came after Tesla stock dropped nearly nine percent this past week.