As Tesla Shares Fall, Twitter Is Getting More Expensive for Elon Musk (updated)

 

Elon Musk will have to sell Tesla shares to fund his Twitter acquisition. SUZANNE CORDEIRO/AFP via Getty Images

Tesla is plunging while Twitter shares keep on climbing. Elon Musk this morning bought more shares of his own company and the tweets remain positive. Elon Musk’s Twitter Account

Value: Tesla Cash vs. Twitter Share Price. Musk has said he will be contributing $21 billion in cash and equity to take Tesla private and that the company’s stock price will spike when the buyout agreement is finalized. That goal could be achieved by Friday, according to people familiar with the matter.

Some investors have pushed back on Musk’s decision to go private, saying his technology vision is at odds with Wall Street and that going that route could harm Tesla’s ability to raise money for future investments. Some said Musk’s spending on Twitter indicates a lack of commitment to shareholders’ long-term interests.

Tesla share fell from $1003 to $984 in the hour after Musk tweeted about the buyout on Tuesday.

The Twitter account Elon Musk is buying was created in late 2015, at a time when Musk was stepping up attacks against short-sellers who he said were seeking to harm Tesla’s stock price. The Twitter account’s bio describes him as “an active investor in cryptocurrencies,” suggesting he may own some of the stock. The person who owns the Twitter account did not return a message seeking a comment sent through the app.

Elon Musk is the world’s richest man (at $265 billion) and he owns more than a fifth of Tesla as well as 21 percent of SolarCity, the company’s residential rooftop solar unit. He also controls The Boring Company, which has built tunnels to ease traffic in Los Angeles.

Elon Musk’s large stake in Tesla is a big irony given that the company’s board members came to him with the takeover proposal over dinner at his house and that he had been pushing the idea for months before they arrived.

The top five equity holders of Tesla are Musk, his brother Kimbal Musk, Elon Telsa Foundation and Goldman Sachs Group Inc., according to Recode data.

Tesla rate recuperated somewhat in evening meetings these days and shut at $998 with regards to share. The stock is down sixteen. Eight rate this yr up to now. Investing Tip: You can’t keep losing money forever. You should take your losses and forget the whole thing. That’s what most people do when they are down or even just in a flat period.

As Tesla Shares Fall, Twitter Is Getting More Expensive for Elon Musk

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Hola! Rohit Kumar Shaw is here, Founder of Akopium. Starting a career can be an extremely demanding and stressful task. I'm a full-time affiliate marketer & developer So, I have been working as a developer and an affiliate marketer throughout the previous 10 years and have accomplished different objectives as an engineer.

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