Shulou(Shulou.com)11/24 Report--

Beijing, Nov. 5 (Beijing time)-Elon Musk (Elon Musk)'s deal to buy Twitter has become an uproar, but his other company has become a "victim". Tesla's share price has tumbled more than 35 per cent since Mr Musk first announced that he would buy Twitter. Over the same period, the Nasdaq composite index fell by about 18%.

On April 25, 2022, Musk announced for the first time that he had agreed to buy Twitter. On the same day, Tesla's closing price was $332.67. As a result, by the close of trading on Friday, a week after Musk became the new boss of Twitter, Tesla shares fell 3.6% to close at $207.47, down 38% from $332.67, and the market capitalization fell by about $400 billion (2.9 trillion yuan).

Tesla's share price has fallen 38 per cent, compared with a much smaller decline for other carmakers over the same period. For example, the share prices of GM and Ford fell by about 2% and 11%, respectively. Shares of Rivian, the upstart in the electric car industry, have fallen by just over 5 per cent.

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