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Tesla Falls as Musk to Buy Twitter in $44 Billion Deal (1)

April 25, 2022, 8:09 PM

Tesla Inc. shares fell Monday afternoon following news that Chief Executive Elon Musk is buying social media company Twitter Inc. in a $44 billion deal.

Shares of the electric-vehicle company ended 0.7% lower after Twitter said it agreed to be acquired by Musk for $54.20 per share in cash. The shares were among the five biggest weights on the S&P 500 Index, which rose 0.6%.

While the weakness in Tesla shares could reflect investors’ worrying “a bit about focus,” the reaction is unwarranted, according to Roth Capital Partners analyst Craig Irwin. “Tesla is in his blood, so I’m not ...