They also hedged a year prior which I believe was a costless collar (selling calls and buying puts). So this could have been unwound as a way to protect their multiple billion dollar investment as the stock price had crashed over the summer. If I was the PIF I probably would have made that move - they're in the business of wealth protection more than anything.
Don’t know about today (Tuesday) but yesterday the volume was 43M. The total amount of shares available is 170M. Around 40% is owned by insiders (musk and friends) and I’d guess half of the remaining shares are owned by long term investors. Just guessing here but that would mean that of the 50M float available I highly doubt they bought 90% of the shares.
This is the best tl;dr I could make, original reduced by 63%. (I'm a bot)
Those shares would be worth more than $7 billion at Tuesday's Tesla price.
Shares of the electric carmaker soared 20% to above $900 on Tuesday, bringing its 2020 gains to more than 110%. Before the latest sale, the sovereign wealth fund had dramatically cut its net exposure to Tesla stock in early 2019 after CEO Elon Musk settled fraud charges with the Securities and Exchange Commission over the claim to take his company private.
Musk's Tesla has more investors betting against the company than any other U.S. stock, according to S3. Short sellers have lost more than $8 billion since the beginning of the year, S3 said.