Following a significant rise in Tesla's (TSLA, Financial) stock price after the U.S. election results, Tesla's Board Chair, Robyn Denholm, capitalized on the opportunity to sell stock, cashing in over $35 million. According to a regulatory filing, Denholm exercised 112,390 stock options set to expire next year and sold them, netting approximately $32.5 million after accounting for exercise costs.
Since the election on November 5, Tesla's stock has surged 38%, boosting the company's market value by over $300 billion. This growth can be partly attributed to Tesla CEO Elon Musk, a prominent supporter of Trump during the election campaign. Tesla has been one of the best-performing stocks in this period.
