Despite no real formal updated delivery guidance for Q2 and yesterday's conveniently leaked article to electrek claiming "new record 'sales numbers'", Tesla board member and long time friend of Elon Musk, Antonio Gracias, hasn't stopped spraying the open market with his personal stock holdings.

A Form 4 filed on 6/5/2019 shows that Gracias again blew out stock between $177.70 and $185.70 after exercising options. As some noted, this Form 4 says that Gracias now has just 466 shares left personally, and that his remaining shares are held in funds.

GRACIAS IS OUT.



Now only owns 466 shares personally. The remaining 276,000 are held in his funds. $TSLA $TSLAQ



Great work boss. pic.twitter.com/3iWC51M561 — Paul Huettner, CFA (@Paul_M_Huettner) June 6, 2019

As you can see from the below chart, Gracias' sale follows a long line of insider selling from Tesla executives since late last year.

Gracias and other long-time top Musk lieutenant, JB Straubel, have been selling, collectively, over $50 million in stock since last November. Reminder, we wrote days ago that Straubel's office presence at Tesla was reported to be "scarce".

Others noted that the pace that Gracias is selling at would leave his funds with no stock left to sell by "early 2020".

Elon’s BFF (and Tesla Director) Gracias continues to unload his $TSLA stock on schedule. At this rate his fund will be out completely in early-2020. pic.twitter.com/oFOwNJGxHE — Diogenes (@WallStCynic) June 6, 2019

Naturally, the skeptics at $TSLAQ on Twitter had lots to say about the sale:

While the promise of 1m appreciating robotaxis got lemmings lathered up at 243, Gracias happily dumping his shares under 180. Go figure 🤷‍♂️$tsla



SEC FORM 4 https://t.co/SpQR85ryyK — HeadButterBot (@4xRevenue) June 6, 2019

Dear $TSLA longs:



$177 a share was plenty good enough for Gracias.$TSLAQ — TeslaCharts (@TeslaCharts) June 6, 2019

Others noted the stunning amount of stock Gracias has sold, in aggregate, since late last year:

Antonio Gracias by the #s:



$25.7mm in gross sales since Nov. at prices as much as $169 above the close have resulted in a loss avoidance of $10.8mm



There is an overhang of 33,766 shares not reported on a Frm4 & his plan missed an early May sale.$TSLA https://t.co/lx7F9KEdsX pic.twitter.com/qgvezBt200 — tracktesla (@track_tesla) June 3, 2019

The board of directors and the company itself can do everything they want to try to and posture to make it look as though everything is fine at the company, but the stock sales from insiders at Tesla continue to allude to a different story.

And who are the bagholders for these sales? Despite retail traders on Robinhood religiously buying the dip...

...there was one other person who recently agreed to buy stock as part of the company's recent financing.