Elon Musk's vow to not sell more Tesla stock fails to calm investors

FILE PHOTO: Tesla logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Tesla Inc shares hit a fresh two-year low in volatile trading on Friday as top boss Elon Musk's promise to not sell his shares in the electric-car company for at least two years did little to reassure investors.

Musk has offloaded shares worth $40 billion in the world's most valuable carmaker since late last year, with $15 billion worth of stock sales coming after he made similar pledges in April, partly to fund the acquisition of Twitter.