The Clap
Tesla’s (NASDAQ:TSLA) stock is down around 28% since October 27 after Musk acquired Twitter and named himself CEO of the social media giant.
What
Tesla saw its stock decline during Tuesday’s session, despite inflation coming in cooler than expected.
On the other hand, major automakers like Ford (NYSE:F) and GM (NYSE:GM) have seen some gains in their share price since Oct 27.
So What
In order to finance the acquisition of Twitter, Musk dumped billions of dollars worth of Tesla shares, which aided in pushing the stock down.
In addition, difficult economic conditions have impacted Tesla, much like other businesses, adding pressure to the company’s stock price.
Musk has also been pretty busy on Twitter, constantly expressing his opinion in the form of provocative tweets, which have gained much attention and criticism.
Now What
For some investors, the significant dip in Tesla’s price opens the door for a potentially strong investment opportunity.
