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Purchase Twitter Elon Musk wreaks havoc on his most valuable company, the electric car maker. Tesla.
Elon Musk recently sold 3.6 billion shares Tesla, disclosed the reports of the US Securities and Exchange Commission, SEC by its abbreviation in English.
This April 2022 Elon Musk assured that he did not plan to sell more shares Tesla, something he failed to accomplish several times.
This year, Elon Musk sold shares Tesla in the amount of 23 billion.
insiders contradicts Wedbush analyst Dan Ives, who notes that Twitter became a “nightmare” for investors in Tesla, which appears to have become an “ATM” to support the social network, bought for $44 billion.
Tesla’s Steady Fall
At the beginning of this year, shares Tesla They reached $400. When Elon Musk announced the purchase Twitter in April they dropped to just under $350. Already at the end of October, Tesla shares fell below $250, which accompanied the takeover. Twitter.
It’s October 16th Tesla opened the session at $159.57 per share, but disagreement Musk and his stock divest brought it closer to $152.
Kugouan Leo, one of the main shareholders Teslabelieves that Elon Musk left the company due to his obsession Twitter.
Another problem for Tesla this happens with the advent of more competition. Chinese company BYD is gaining more and more market share, while traditional manufacturers are increasingly focusing on electric vehicles.
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.