Source: Caijing Network2022-04-27 11:09
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Tesla was not involved in a deal to buy Twitter, but its stock has become a target for speculators as Musk has refused to publicly disclose the source of the acquisition funding. Tesla shares fell 12.2% on April 26, equivalent to a $21 billion drop in the value of Musk’s Tesla stake, nearly the same as the $21 billion in cash he pledged for the Twitter deal.
Financial NetworkAuto News on April 27, according to Hexun.com, on April 26, Tesla’s market value shrunk by $126 billion as investors worried that Musk might have to sell his Tesla shares to raise funds to complete the acquisition of Twitter.
Tesla was not involved in a deal to buy Twitter, but its stock has become a target for speculators as Musk has refused to publicly disclose the source of the acquisition funding. Tesla shares fell 12.2% on April 26, equivalent to a $21 billion drop in the value of Musk’s Tesla stake, nearly the same as the $21 billion in cash he pledged for the Twitter deal.
A sharp drop in Tesla’s stock price might cause Musk to reconsider his deal with Twitter. Musk has a fortune of $239 billion, most of which comes from Tesla. “If Tesla’s stock price continues its downward trend, it will jeopardize Musk’s financing,” said Ed Moya, senior market analyst at market analysis firm OANDA. Musk also received a $12.5 billion investment tied to his Tesla stock. Margin loan. It is reported that he has pledged regarding half of his Tesla stock holdings.
The plunge in Tesla’s stock price comes once morest a backdrop of challenges facing many tech-related stocks. On April 26, the Nasdaq closed the day at its lowest level since December 2020, as investors fretted regarding slowing global growth and more aggressive interest rate hikes by the Federal Reserve. Shares of Twitter fell 3.9% to close at $49.68 on April 26, despite Musk agreeing on April 25 to buy Twitter for $54.20 a share in cash.