According to the recent research, there are over 80% of people would be motivated to exercise if incentivized by crypto...

Cryptocurrency

Recent Study Reveals That Crypto Motivates People to Exercise

On Friday, Prime Minister Ranil Wickremesinghe warned of a food shortage as the island nation battles a devastating economic...

Economy

Thousands queue for petrol, gas in Sri Lanka amid warnings of food shortages

ASML, a semiconductor industry and stock market giant, might have to think smaller. Or maybe bigger. Currently, it is building machines...

Technology

Computer chip giant ASML places big bets on a tiny future

Finance ministers and central bank governors of the United States, Japan, Canada, Britain, Germany, France and Italy - the G7, agreed on...

Economy

Money for Ukraine Priority in G7 Agenda; Inflation, Food a Concern

An auto safety agency in the U.S. said on Wednesday that it has opened an investigation into a fatal crash involving a Tesla...

Stock Markets

U.S. Agency opens investigation involving Tesla due to 14 Crash Deaths

Stock Markets

27 Apr 2022

Tesla Value Plunges by $126 Billion over Elon Musk’s Twitter Buyout Funding Worries

Tesla Value Plunges by $126 Billion over Elon Musk’s Twitter Buyout Funding Worries

The Index Today

Elon Musk’s Tesla Inc. plummeted by $126 billion in value amid concerns over the source of the funding of his Twitter Inc. takeover deal.

As per Yahoo Finance, even though Tesla does not have any direct involvement with its CEO’s acquisition of the social media platform, Musk’s refusal to divulge the source of the money required to buy Twitter has set speculators on the edge. As a result, Tesla’s shares have tumbled by 12.2% which amounts to $21 billion which is the same sum required by Musk to close the Twitter deal.

Daniel Ives, the analyst at Wedbush Securities, contended that the Tesla stock plunge can be attributed to expectations that Musk will have to sell his Tesla shares to finance his Twitter acquisition deal, which they believe, could also be potentially sidetracking the Tesla CEO.

Twitter’s shares also plummeted on Tuesday by 3.9%, ending at $49.68 even as Musk consented to buy the social media giant for $54.20 per share in cash for about $44 billion in total, reported Yahoo News.
This comes in the midst of a particularly exacting time for technology stocks with Nasdaq falling to its lowest level on Tuesday since December 2020, spurred by investor concerns over a global growth slowdown and additional hawkish interest rate hikes by the U.S. Federal Reserve.