Tesla shares have fallen 35 percent since Elon Musk announced the purchase.

Since Tesla CEO Elon Musk announced the acquisition of Twitter, Tesla shares have fallen more than 35 percent and closed down 3.6 percent on Friday (Nov. 4), contrary to the general rally of the New York Stock Exchange.

Mr. Musk that for the first time He agreed to buy Twitter on April 25, 2022, on which day Tesla shares closed at $332.67 and last Friday (Nov. 4) at $207.47.

Hedge fund manager Ron Baron, who is a shareholder in Tesla, SpaceX and Twitter, asked Musk about Musk’s new role during the Baron’s 29th Annual Investment Conference on Friday (Nov. 4)

As well as overseeing SpaceX, Tesla, Neuralink and The Boring Company, Musk recently referred to himself as “Chief Twit” and after reaching an agreement to buy Twitter for $44 billion Mr Musk is officially the only CEO and director of Twitter.

Mr Musk told Mr Baron that “My workload has increased from, I don’t know, 78 hours a week and maybe 120 hours,” he added. “As soon as Twitter gets in the right direction, I think it will be easier to manage than SpaceX or Tesla.”

Mr Musk did not say who might replace him as Twitter CEO. Although he told followers on Twitter that his position as Director and CEO of Twitter is Interim.

CNBC news agency said that Mr. Musk owns Twitter. The car companies that compete with Tesla like GM and Audi. stop advertising on twitter But it is not clear how this will affect Tesla in the long term.

Tesla has long relied on Twitter. and has a large number of Mr. followers. Musk on Twitter. to disseminate information to shareholders And Mr. Musk uses Twitter to promote his entire company. their product and self-image without cost

Mr Musk has also often persuaded his Twitter followers to engage in attacks against his enemies such as elected officials, regulators such as the Securities and Exchange Commission, journalists and other automotive safety advocates who are seen as overly critical of Tesla

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.