Investors Shrug At Elon Musk's Updated SolarCity Stake

Elon Musk roused interest in his potentially complimentary energy holdings Tuesday evening by adjusting his stake in SolarCity Corp SCTY, a company that has long been viewed as a niche partner for Tesla Motors Inc TSLA.

Elon Musk's 21.2 million share stake gives him 21.7 percent of SolarCity, according to an SEC document filed the evening of February 2.

Musk's investment raises questions about his plans for SolarCity's solar data tracking and installation services. Motley Fool writer Travis Hoium speculated last summer that Tesla could make use of SolarCity's large customer base to monetize its battery solutions.

Last year, SolarCity representatives were reluctant to partner with Tesla, claiming their Powerwall batteries didn't fit their home solar consumption model, according to Business Insider.
Comparatively, Musk owns a 22 percent stake in Tesla with 28.9 million shares, according to an SEC filing dated January 29.

Investors were seemingly unaffected by news of Musk's adjusted stake.

Amid a sharply falling market, Tesla shares were down 6 percent Wednesday morning.

S&P futures plunged from a market open of around 1910 to 1877 at time of writing, a 1.6 percent decline.
SolarCity shares were down nearly 4 percent Wednesday morning.