Tesla hammering continues after Musk's Twitter takeover

[Hanno Labuschagne]

Tesla hammering continues after Musk's Twitter takeover

Tesla Inc. erased all of its gains from the past 17 months as investors continue to sell off the stock in the wake of chief executive officer Elon Musk’s purchase of Twitter Inc.

The electric-vehicle maker’s shares closed down 5% to $197.08 in New York Monday, at the lowest level since June 2021.

[Bloomberg]

 

[rvZA]

Lol... dump Tesla and let it go belly-up. It will be no loss. Let Musk focus on Space travel. EV's are s**t gimmicks in any event.

 

[LCBXX]

Still damn expensive stock..

 

[Pegasus]

People are dumping Tesla stock because he bought twitter?

 

[LaraC]

Demand for cars is slowing in an inflationary environment, supply-chain troubles still linger and raw material costs are stuck at high levels.

Yeah, Twitter is the reason.

 

[skimread]

All US stocks are getting a pounding. Same with crypto.

 

[Pak Fa Fui]

China is still under zero covid policy, Tesla has a factory in China
Blame twitter buyout

 

[Johnatan56]

Yeah, Twitter is the reason.

Well a lot of the shares in it are owned by musk, and he's using it as collateral for Twitter, so that will tank the stock a bit.

Overall stock market is down, tech a lot as it was in a bubble, Tesla was (and even after the crash still is) way overvalued vs its revenue/profit and also its potential profit if all he promises (musk promises a lot of stuff and breaks pretty much all of them) are still not worth the peak price.

 

[zerocool2009]

Ready to almost jump in! (As in buy more)

 

[_TrXtR_]

That's how it is supposed to work? Take the money out at the top and buy low?
People been cashing out everywhere.
Doesn't seem Elon specific.