Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Elon Musk May Be Feeling Buyer's Remorse As Twitter & Tesla Stocks Take A Dive
Posted
May 27, 2022
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9:05Now PlayingTimes could be getting tougher for Elon Musk as shares of both Twitter and Tesla have been tanking recently, reportedly shaving off a cool $40 million from his initial investment in Twitter that could have netted him a profit of $1.1 billion. Wonder if Elon is experiencing any buyer’s remorse for jumping into his deal to buy Twitter...Cenk Uygur and Ana Kasparian discuss on The Young Turks. Watch LIVE weekdays 68 pm ET.
Read more HERE:
"Elon Musk has seen potential gains of $1.1 billion wiped out over the past four weeks as Twitter's stock has plummeted.
Musk began snapping up shares in the social media company in January, building up a 9.1% stake. Before agreeing to buy the company outright on April 14, he owned 73 million shares at an average price of $36.16.
Twitter shares hit $51.70 on April 25 - which would have represented a $1.1 billion profit for Musk. But they've since fallen 31% to below $36 - turning that billion-dollar gain into a $40 million loss.
Twitter fell 6% Tuesday as investors sold off social media and advertising stocks after Snap announced it would miss its second-quarter revenue target. It's fallen 28% in the last month and 18% so far this year."
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