Elon Musk's 'insane' call: Tesla worth $700B

It could be lack of confidence, but it could also be that they just want to cash out.

To some people, a few million might be more than they'll ever need or want. Or maybe they just need cash right now (pay off debt, start a business, upgrade lifestyle) and a few million is enough.

Tesla was founded in 2003. That's a long time to wait for any kind of return, and some people are going to be impatient.