IT NEWS NIGERIA
Concerns and uncertainties surrounding Elon Musk Twitter takeover has wiped off over $126bn off Tesla market values
Tesla investors are panicking over CEO Elon Musk’s acquisition of Twitter, erasing 12.2% off the electric carmaker’s value and thus $21bn of Musk’s personal stake in the company.
Report say that the proposed $44bn purchase of Twitter will reportedly be partly financed by a $12.5bn loan secured against Musk’s Tesla stake, making shareholders fear he will have to sell some Tesla shares to complete the Twitter deal.
Analysts warned that if Tesla stock drops further, Musk may not be able to fulfill the $21bn in personal liquidity he committed to buy Twitter. The Big Tech platform also fell Tuesday, 3.9% to $49.68 ($4.52 below Musk’s purchase price).
