Tesla value drops as Musk takes over Twitter

Apr 28, 2022 - 10:53 am

Tesla value drops as Musk takes over Twitter

Hardly any other topic is currently as polarising as Elon Musk’s takeover of Twitter. Tesla’s shares lost eleven per cent or 114 billion US dollars in value after the deal was announced. Henrik Fisker, head of the electric car manufacturer Fisker, and Musk rival for many years, immediately deleted his Twitter account.

Critical voices are increasing, particularly in view of Musk’s announced plan to make Twitter a global platform for freedom of expression, citing examples where Musk has been anything but a champion of freedom of expression in the past, for example, when dealing with disagreeable media representatives or customers.

On the other side, Tesla shareholders are worried about Musk’s attention span: “Tesla shareholders can’t be happy that Musk will have to divert even more attention away from winning the electric-vehicle race,” wrote Oanda analyst Edward Moya.