Elon Musk’s posts on Twitter about his deal to buy the social media company are having a ripple effect on Tesla stock, too.
Tesla investors, however, shouldn’t get too far ahead of the situation.
The Tesla TSLA +7.37% (ticker: TSLA) CEO said on Twitter early Friday morning that his deal to buy Twitter (TWTR) was “temporarily on hold” pending a calculation related to the number of fake accounts on the platform. He said later Friday morning that he was “still committed to acquisition.”
Twitter investors are reacting with angst. Shares of Twitter are down more than 12% in premarket trading to $39.50. A deal collapse risks sending Twitter shares back to roughly $39, the level they traded at just before Musk’s initial stake in the company was disclosed.
