(Reuters) – Tesla (NASDAQ:) Inc Chief Elon Musk stated Saturday that he will sell 10% of his stake. This was based on the results of a Twitter poll in which users were asked whether they should sell their shares. Around 58% of those surveyed voted for “Yes”.

Musk tweeted, “Much has been made recently of unrealized gains as a way of tax avoidance,” adding that he doesn’t take any cash bonus or salary “from anywhere” and only owns stock.

Musk stated previously that he would need to exercise large numbers of stock options over the next three-months, creating a significant tax bill. He could sell some of his stock to raise funds for taxes.

Below are the comments of analysts

DAVID MADDEN, MARKETS ANALYST AT EQUITI CAPITAL

Given the many times this company experienced significant pullbacks, “When the dust settles”, people will always return to work.

Although selling stakes can have an immediate impact on the business, this does not mean that it will not be beneficial in the long-term.

NICHOLAS HYETT – ANALYST HARGREAVES LANDOWN

A large-scale share sale can disrupt the share price of a company, as it is simply a consequence supply and demand. But, this shouldn’t affect Tesla’s appeal or value, and, if handled properly, shouldn’t disturb the share prices over the long-term.

RUSS MOULD, DIRECTOR OF AJ Bell INVESTMENT

Although it might sound crazy to hold a Twitter poll about Tesla’s 10% stake, one can argue that Musk is not a fan of doing things the traditional way.

The situation may be viewed by investors who might try to buy the stock at a higher price, or sell it before he does. This is an invitation to short sellers to bet on whether the stock will decline, and potentially make a profit.

NEIL WILSON, CHIEF MARKET ANALYST AT MARKETS.COM

He could just be trying to get rid of stock because it is high in value. Cash out when the going’s good. Is it really fair to criticize someone who does this? Instead of being criticized by his supporters for selling his stock holdings, Musk can simply say “Look, you told me!” Musk had to sell his shares soon because he was facing a huge tax bill for some of the stock options he owns. Musk, who is not paid a salary or bonus as Tesla CEO, would have to sell his shares to make up the difference. It seems fair, but is it really necessary to have all this fintwit showbusiness?

DANIEL IIVES, ANALYST WEDBUSH SECURITIES

Musk is currently holding 23% of Tesla. It was widely believed by the Street that Musk would eventually sell 5%/6%. A 10% increase could be surprising some investors, but it is still a reasonable amount we can take seriously. It would be better for Musk to remove the bandage now, rather than let it sit over the next year feeding into any other non-fundamental bear thesis.

CHAMATH PALIHAPITIYA VENTURE INVESTOR

“We’re witnessing Twitter mass decide on the outcome for a $25B (billion-dollar) coin flip.” http://