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Something happened, now this stock is moving

Tesla Inc (NASDAQ:TSLA) had investors concerned today, which has pulled the stock price down by 12.18% as at 5am Sydney time.

Investors in Tesla sold out of the EV giant’s shares a day after CEO Elon Musk bought Twitter for US$44bn. Investors may hold concerns over how Elon Musk will fund the US$44bn Twitter purchase as much of his wealth is tied up in Tesla stock. The US$44bn deal is made up of US$21bn in equity, and US$25.5bn of fully committed debt, including US$12.5bn in loans against Musk’s Tesla stock.

Following today’s announcement, Tesla Inc stock is now down 26.95% year to date.

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