Photo: SNL
There are two human beings in the U.S. with extraordinary power and a history of blatant use of Twitter—Donald Trump and Elon Musk. After Trump's unceremonious exit, Tesla's CEO took over the mantle as the platform's 'big Kahuna,' expressing his mind and thoughts without fear or favor. He recently became a primary stakeholder and now wants to buy the platform – but Tesla investors are getting concerned.
Tesla's CEO's offer to buy Twitter sparked some concerns among Tesla investors who feel it's a distraction that might affect stock sales at the company, Reuters reported. According to industry analysts, his involvement with the social media platform could be detrimental to Tesla's future.
Musk has been buying Twitter stock since January, helping him accumulate a majority of 9.2% stakes over the platform. Last week, he accepted an offer of a seat on the board but later retracted it.
On Thursday, the Tesla and Space X CEO took to Twitter to announce his intention to buy the platform for $43 billion. Tesla observers worry that Musk might become distracted or, worse, compromise his Tesla stake to close the Twitter deal.
Gene Munster, a managing partner at venture capital firm Loup Ventures, which owns shares in Tesla, said Musk is getting distracted and has many things going. She added that the CEO has gotten involved in a lot of different endeavors.
While Twitter shares took a bump after his announcement last Monday, Tesla's shares fell more than 9%, and by Thursday, the world's leading EV automaker's stock fell 3.7%.
According to an offer letter sent to the social media company on Wednesday night, Musk believes the platform has extraordinary potential he can unlock. He's pumped up about making changes at Twitter, even though Tesla currently faces its share of challenges.
Analysts feel the CEO needs to focus more on boosting production at the newly set up plants in Berlin and Texas since its largest plant in Shanghai is down due to a resurge of the pandemic in China.
Musk has been buying Twitter stock since January, helping him accumulate a majority of 9.2% stakes over the platform. Last week, he accepted an offer of a seat on the board but later retracted it.
On Thursday, the Tesla and Space X CEO took to Twitter to announce his intention to buy the platform for $43 billion. Tesla observers worry that Musk might become distracted or, worse, compromise his Tesla stake to close the Twitter deal.
Gene Munster, a managing partner at venture capital firm Loup Ventures, which owns shares in Tesla, said Musk is getting distracted and has many things going. She added that the CEO has gotten involved in a lot of different endeavors.
While Twitter shares took a bump after his announcement last Monday, Tesla's shares fell more than 9%, and by Thursday, the world's leading EV automaker's stock fell 3.7%.
According to an offer letter sent to the social media company on Wednesday night, Musk believes the platform has extraordinary potential he can unlock. He's pumped up about making changes at Twitter, even though Tesla currently faces its share of challenges.
Analysts feel the CEO needs to focus more on boosting production at the newly set up plants in Berlin and Texas since its largest plant in Shanghai is down due to a resurge of the pandemic in China.
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