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Tesla loses $125 bn in market value

When Elon Musk acquired Twitter for $44 billion, the stock of his electric car company Tesla plummeted, and its market value was reduced by at least $125 billion due to some obvious risks. 

According to media reports, it is possible that Elon Musk could face conflict with China over free speech, which is a key market for his company as it produces electric vehicles in Shanghai. There is a risk that Elon Musk could become distracted by his latest acquisition, reports NPR. 

Tesla
Tesla loses $125 bn in market value 2

After the Twitter acquisition news broke, the company shares fell by 12.2%. The world’s richest man has a net worth of $257 billion, but two-thirds of that is in Tesla stock. If Musk were to sell some of his Tesla holdings, it could drive the company’s share price down further.

Also read – Jeff Bezos, Amazon founder loses $20

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Pooja Singh
Myself Pooja Singh, I have done master's in Mass Communication & Journalism from Tezpur University. I am working here as a content writer. Being a media student I have nose for news. I am always keen and eager to learn new things so that my skills can be enhanced. I love to write about entertainment, politics, environment etc. so I turned my passion to profession.
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