Twitter impact on Tesla

For a few days, Elon Musk and Twitter names echoed on social media. Finally, the board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk. Twitter Chief Executive Officer Parag Agrawal says that the process would take another 6 months to change the Twitter management. But buying Twitter showed a negative impact on Elon Musk’s Tesla share. The shares of Tesla plunged 12 percent on U.S. exchanges immediately after buying Twitter.

Musk, who has been trying to buy Twitter for a long time, is believed to have plunged into Tesla's shares following the publicity surrounding the sale of his stake in Tesla to raise funds. In the wake of the Twitter purchase, shareholders sold their shares as a precautionary measure as the campaign to sell Tesla if necessary also intensified. Tesla has been in a bit of a predicament since Musk announced on Twitter that he had bought shares. Until then, the market value had plummeted to $ 275 billion. As Tesla's share price plummeted, the company's market capitalization fell by $ 126 billion in a single day.

The news that Twitter is indirectly interfering in the politics of those countries has also alarmed shareholders. It sounds like investors are showing interest in selling their shares. However, market sources say that the sharp rise in inflation in the United States is another major reason for Tesla's backlash. However, Musk did not disclose how he will raise the $ 21 billion he has spent on his stake so far. It is in this context that the news is heard that Tesla has raised funds to sell its shares. Overall this sequence is heard to have had a negative impact on Tesla shares.

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