Elon Musk’s acquisition of Twitter has propelled Tesla’s stock price this year, as its value is largely negatively correlated with any progress made by the social media company. But investor support for SpaceX seems immune to drama.
In April, when Musk first announced his intention to acquire Twitter, just weeks after Tesla shares hit a 2022 high of $381.82 on April 4, according to data from Yahoo Finance. It’s been down pretty steadily since then, aside from the few outbreaks where it looked like the Twitter transaction might fall through or Musk might step down as CEO of Twitter, and it opened today at $139.34 a share, a drop of up to 63.5% this year.
Tesla stock has also been buzzing lately, with Wall Street analysts eyeing the investment amid predictions that Musk will sell more Tesla stock to prop up Twitter, making them less sure that it is a good buy. .
As all this drama unfolds, SpaceX, one of Musk’s other companies, seems not only shielded from the Twitter noise, but largely unforgiving.
Source: La Neta Neta
Jason Jack is an experienced technology journalist and author at The Nation View. With a background in computer science and engineering, he has a deep understanding of the latest technology trends and developments. He writes about a wide range of technology topics, including artificial intelligence, machine learning, software development, and cybersecurity.
