Tesla's stock slide raises doubts about Elon Musk's Twitter purchase
CNN
Elon Musk's bold plan to buy Twitter depends partly on how his investment in Tesla is doing. Uh-oh.
Shares of Tesla (TSLA) have plummeted about 20% since Musk first disclosed plans to buy all of Twitter and take it private. That's a key reason why Twitter's stock (TWTR) is now more than 10% below Musk's proposed $54.20 a share purchase price.
Twitter's stock is hovering around $47.50. That's only a bit above the $46.76 midpoint between Musk's takeover offer price and $39.31 — the price at which Twitter shares were trading when Musk first disclosed that he had taken a more than 9% stake in the company early last month.
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