Tesla share price: Tesla shares have fallen 31% since Elon Musk said he is buying Twitter

New Delhi: TeslaThe stock fell 31% from the founder and CEO of the electric vehicle maker Elon Musk had bought
Twitter on April 4th.

What is making investors so upset? Musk’s involvement with Twitter is another distraction for Tesla, especially as the electric vehicle market becomes more competitive. Investors are wondering if Musk will use his stake in Tesla to help finance the planned $ 44 billion acquisition.

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Shares of Twitter fell 3.7% to $ 47.96. This is very different from Musk’s $ 54.20 offer, indicating that investors are unsure whether the merger will go through.

Moss recently
completed an 8 billion dollar Tesla stock sale, which is thought to be related to the Twitter transaction. Additionally, Tesla said in June 2021 that about half of Musk’s equity in the company was used as collateral for personal loans.

Against the technological meltdown: Investors sold shares in global tech companies on Monday, causing the Nasdaq to plummet by more than 4%, worried about weaker growth, higher inflation and higher interest rates.

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Since the Federal Reserve raised interest rates by half a percentage point last week, the technology benchmark has fallen 10%, with Fed Chairman Jerome Powell signaling that the US will continue to raise rates.

Microsoft’s market cap is now under $ 2 trillion as of Monday, for the first time since June 2021, as the stock fell 21% this year. Shares of Amazon have fallen more than 40% from its high in 2021.

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losing 3.3% on Monday, Apple has come within a whisker of being eclipsed as the largest company in the world by market cap by Saudi Aramco. After losing 14% this year, the iPhone maker ended the day with a market cap of $ 2.4 trillion.

Airbnb fell 12%, while ride-hailing company Uber fell 11.6%. Uber chief executive Dara Khosrowshahi said in a staff note that the transport company
it will cut costs and focus on becoming a leaner company.

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