Interestingly, the high tech stocks also fell. Electric vehicle companies’ stock also fell by about the same proportion. Either they’re saying that the sale of Twitter affected the entire market (which would make it noteworthy) or the drop could be in line with other declines.
In the longer term, Tesla is going to need a megaphone to get the industry to move. Tesla has had its problems with local governments and other governmental regulations.
The US Presidential election, and by extension, governmental regulations, is determined by the media. Despite having younger candidates with more popular ideas, the media pushed Biden in the last election. That was a function of who owned the large media outlets.
If any industry wants to move ahead, they need a media platform. Bezos bought a newspaper. But newspapers are losing relevance.
The risk with Musk buying Twitter is that it could go the way of MySpace really quickly. But no doubt, Twitter played a big role in politics and the election of the President.
Your own figures don’t support what you say, a 12% fall for Tesla, 4% for the rest of the market is hardly a comparable fall. Nor were the other electric car companies of the same order.
This Twitter deal is getting weirder all the time. In his SEC filing on Thursday, Musk wrote that he’ll be accepting money from Saudi Arabia and Qatar for the purchase price.
Musk has said that he wants Twitter to be a beacon for free speech, but Saudi Arabia and Qatar are not the places where free speech are big rights.
The source is Buzzfeed so take with a grain of salt.
Probably because of the Twitter deal, Elon Musk is getting more scrutiny. Reading the whole story makes the claim look a bit more dodgy. The story is told through a “friend”. Musk says there’s another side to the story saying that it’s a politically motivated hit piece but doesn’t respond further. The person who is making the claim is bound by a non-disclosure agreement. A SpaceX Flight attendant is claiming that Musk sexually harassed her.
Musk is asserting that he has the right to terminate his acquisition of Twitter. Whether he does or not will probably play out in the courts, but that’s his assertion to try to get some leverage on the deal that he’s hammering out with Twitter.
