NEW YORK, Apr 26 (EFE).- Tesla shares tumbled 11% on Wall Street on Tuesday and dragged other big tech companies that are part of the Nasdaq index, a day after its CEO and founder, Elon Musk has struck a deal to buy Twitter for about $44 billion.
Musk’s electric vehicle company lost 11.06%, or more than $110 of its share value, midway through the session, while Twitter was down 3.50%, as were other tech bigs such as Netflix ( -4.9%), Amazon (-4%), Alphabet (-3.2%), Apple (-2.7%) and Meta (-2%).
According to analysts, Tesla’s drop responds to market concerns about the financial part of the deal, as Musk said he had about $46.5 billion to make the purchase, of which $12.5 billion are loans related to the deal. vehicle company.
Musk is the richest man in the world with a net worth of over $264 billion, but almost all of that money is tied to his stake in Tesla, which has a market value of around $1 trillion and in which he is the majority shareholder with a 17% stake.
The buyout, in which Musk will pay $54.20 for each share of Twitter, is expected to be completed later this year after receiving the green light from shareholders, regulators and other customary procedures, according to details provided about the deal. I agree.
