Tesla shares fall after Elon Musk launches bid for Twitter as investors question how he would manage 3 companies


Tesla Inc. shares TSLA, -3.66% slid 2.7% Thursday, after its Chief Executive Elon Musk launched an unsolicited bid for Twitter Inc. TWTR, -1.68%, raising concerns he may end up running three companies. Musk is offering $54.20 per each Twitter share he does not already own, valuing the social media platform at more than $43 billion. Musk already runs electric car maker Tesla, as well as space exploration technology SpaceX. Wedbush analyst Dan Ives said he expects the deal will happen, albeit in a “soap opera ending.” There will be host of questions around financing, regulatory, balancing Musk’s time (Tesla, SpaceX) in the coming days but ultimately based on this filing it is a now or never bid for Twitter to accept,” he wrote in a note to clients. Tesla shares have fallen 6% in the year to date, matching the decline for the S&P 500 SPX, -1.21%.

This article was originally published by Marketwatch.com. Read the original article here.

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