Elon Musk invested in Twitter, and Tesla fell in price

(ORDO NEWS) — On Thursday, Tesla CEO Elon Musk offered to buy the social media platform Twitter, causing Tesla shares to plummet.

Twitter shares are up about 15% since Musk announced his stake in the social network. Tesla investors have little to celebrate.

During the same period, the company’s shares fell more than 9%. But they may also be concerned about what Twitter means to Musk.

The fact is that Twitter could divert Musk’s attention from Tesla at a time when sales of electric vehicles are growing around the world. Roth Capital analyst Craig Irwin said Tesla is Musk and Musk is Tesla.

He does not believe that there can be another leader in the company who can move Tesla forward the way Musk does.

Another reason Tesla stock is down is that Musk may have to pay for Twitter with Tesla stock.

Tesla shares quickly fell 16% in two days after Musk conducted a Twitter poll asking if he should sell 10% of Tesla shares to pay taxes on unrealized capital gains, where the majority answered yes and Musk sold more 15 million shares worth more than $16 billion.

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