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Tesla shares tumble 12% as Musk raises funds to buy Twitter

Reporter Archer Sun / Comprehensive Report

Recently, there has been a wave of Tesla stock buying in the community. Shortly after Musk announced that he had decided to buy Twitter, Tesla stock equivalent to $4.4 billion had been sold on 4/26, resulting in Tesla’s stock price. It fell 12%, and many Musk fans rushed to buy the bottom hoping to keep up with this wave of entry opportunities, but it also made investors very dissatisfied.

Musk said he would not sell Tesla shares in the future, but has been scolded by investors

Musk’s recent sell-off of Tesla stock is naturally to raise funds for the acquisition of Twitter. But the sell-off sent Tesla’s shares down 12 percent on Monday, the biggest one-day drop since September 2020, and the company’s market value fell below $900 billion. The transaction price per share sold by Musk this time falls between $870 and $1,000, and the stock with a total arbitrage price of $4.4 billion is equivalent to nearly 129.5 billion Taiwan dollars, which is amazing.

Photo Credit: Musk Twitter

Photo Credit: Musk Twitter

However, such a large-scale fundraising method has aroused the dissatisfaction of many investors, and pointed out that Musk “don’t treat Tesla as your personal cash machine” and “take money from it if you want to buy toys”, Musk’s criticism from the outside world The tweet, which promised to “have no plans to sell Tesla from now on,” has since been deleted from Musk’s personal Twitter.

When it was determined to acquire Twitter for $44 billion a while ago, Musk’s report to the SEC pointed out that he would raise $13 billion with Morgan Stanley and borrow $12.5 billion with Tesla stock, but There is still a funding gap of $20 billion in the middle, and the outside world is worried that Musk will put a knife to Tesla stock. Sure enough, the $4.4 billion Tesla stock was sold, which shocked the stock market and the mentality of investors. Musk also owns nearly 168 million Tesla shares.