Tesla shares fallen more than 35%, since Musk first announced his purchase of Twitter

Elon Musk’s acquisition of Twitter transaction is a lot of noise, but his other company has become a “victim”. Tesla shares have tumbled more than 35% since Musk first announced he was buying Twitter. In the same period, the Nasdaq Composite fell about 18%.

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On April 25, 2022, Musk first announced that he had agreed to acquire Twitter. On the day, Tesla closed at $332.67. As a result, by the close on Friday, a full week after Musk became Twitter’s new boss, Tesla’s stock price fell 3.6% to close at $207.47, down 38% from $332.67, and its market value shrunk by about $400 billion.

Tesla shares TwitterBy comparison, other automakers have seen their share prices fall much less over the same period. For example, shares of General Motors and Ford fell by about 2% and 11%, respectively. Shares of Rivian, an upstart in the electric vehicle industry, fell just over 5%.


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