| Tesla CEO Elon Musk has agreed to buy Twitter for $44 billion. © Reuters=News1 © News1 Reporter Jeong Yun-young |
Twitter’s share price has surged 27% since Tesla CEO Elon Musk announced the takeover of Twitter on the 4th, but Tesla’s share price has plunged 19%.
Musk reported to the Securities and Exchange Commission (SEC) on the 29th (local time) that he had sold $4.5 billion of Tesla stock to acquire Twitter.
Earlier, Musk reported that the previous day also sold $4 billion (about 5.8 trillion won) of Tesla stock to the SEC.
As a result, Musk sold a total of $8.5 billion in Tesla stock to take over Twitter.
Musk needs to raise $44 billion in all to buy Twitter. Among them, investment banks and others have agreed to provide $23 billion, so Musk will have to raise $21 billion with his own money. Musk seems to be selling Tesla stock every day to make up for it.
As a result, Tesla’s share price fell 0.77% from the previous trading day to $870.76. Tesla shares were down 0.5% the day before.
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| Tesla Daily Stock Trend – Yahoo Finance Capture |
Tesla’s stock has plunged 19% since Musk announced it was taking over Twitter on the 4th. In comparison, Twitter has surged 27% since the last 4 days.
sinopark@news1.kr
