Tesla stock plunges as investors worry about Twitter controversies and lost China sales

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After Wall Street lowered its price targets for the stock of the manufacturer of electric vehicles, Tesla’s shares fell 8.12% on Tuesday. Analysts worry that CEO Elon Musk is preoccupied with his hostile takeover and micromanagement of Twitter and that China sales will suffer if COVID-19 is allowed to spread after the Chinese government changed its position on strict restrictions.

At the time that this article was published, Tesla’s shares had fallen to a more than two-year low of $138. Analysts claim that investors are worried that Musk will sell more Tesla stock to finance Twitter and that his antics on the social media site are damaging the reputation of the electric vehicle manufacturer. One of the many stock dumps the CEO has carried out this year was the sale of $3.5 billion worth of shares by Musk last week.

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Tesla stock plunges as investors worry about Twitter controversies and lost China sales

After Wall Street lowered its price targets for the stock of the manufacturer of electric vehicles, Tesla’s shares fell 8.12% on Tuesday. Analysts worry that CEO Elon Musk is preoccupied with his hostile takeover and micromanagement of Twitter and that China sales will suffer if COVID-19 is allowed to spread after the Chinese government changed its position on strict restrictions.

At the time that this article was published, Tesla’s shares had fallen to a more than two-year low of $138. Analysts claim that investors are worried that Musk will sell more Tesla stock to finance Twitter and that his antics on the social media site are damaging the reputation of the electric vehicle manufacturer. One of the many stock dumps the CEO has carried out this year was the sale of $3.5 billion worth of shares by Musk last week.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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