Tesla Stock Is Falling Today: Is It Time to Buy?
Tesla (NASDAQ: TSLA) stock is losing ground in Thursday's daily trading session. The electric vehicle (EV) company's share price was down roughly 4.7% at 11:30 a.m. ET today.
Tesla stock has lost substantial ground following the news that CEO Elon Musk's $44 billion bid to buy Twitter has been accepted by the social media company. The EV stock is now down roughly 16% since news broke that the acquisition proposal had been accepted. With shares seeing a substantial pullback recently, investors may be wondering whether it's a good time to invest in the EV leader.
The recent decline for Tesla's share price appears to be driven by concerns that CEO Elon Musk will need to sell a substantial portion of his holdings in the company in order to finance the Twitter deal. Investors are also concerned that becoming heavily involved with the social media platform will make the CEO less capable of running his EV company.
Source Fool.com
