Musk (infographic) Xinhua News Agency/AFP
On the 26th, Tesla's market value lost $126 billion, and investors are worried that Tesla CEO Musk may have to sell shares to fund his $44 billion acquisition of a $21 billion stake in Twitter.
Screenshot of the report
Tesla's stock price fell 12.18% on the 26th to $876.42 per share, the largest one-day decline since September 2020, which made Musk's Tesla holding value lose more than $32 billion in one day.
Tesla was not involved in the Twitter takeover deal, but Tesla's stock has become a target for speculators because Musk refused to publicly disclose the source of funding for the acquisition of Twitter. According to foreign media reports, since Musk announced his increase in Twitter holdings on the 4th of this month, Tesla's market value has so far evaporated by more than $275 billion, and the stock price has collapsed by more than 23%. Musk's personal 17 percent Tesla stake has shrunk by more than $40 billion, nearly double the portion of the $21 billion stake he personally promised to buy Twitter.
Tesla did not immediately respond to requests for comment. Analysts said: "Musk took a lot of risk by using Tesla stock as a guarantee. If Tesla's stock price unexpectedly plummets, it may bring a lot of trouble. ”
To be sure, the backdrop of Tesla's plunge in stock price has been a challenge for many tech-related stocks. The Nasdaq index closed at its lowest level since December 2020 on the 26th, with slowing global economic growth and the Fed's more aggressive interest rate hike policy worried investors.