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Tesla's Elon Musk exercises all of his stock options expiring next year

Tesla shares were trading down 1.1% to $1,077.03 each on Wednesday

Elon Musk
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Elon Musk exercised options to buy nearly 23 million shares at $6.24 each, a fraction of Tesla's share price

Hyunjoo Jin | Reuters San Francisco
Tesla Inc Chief Executive Elon Musk has exercised all of his options expiring next year, signaling an end to his stock sales which triggered a fall in the share price of the world's most valuable carmaker.

He has sold $16.4 billion worth of shares since early November when he said he would sell 10% of his Tesla stock if Twitter users agreed. They did.

Musk said last week that he would be done selling shares after his programmed sales ended.

Musk in September set up a prearranged plan for stock sales related to options expiring next year and Tesla in a filing on