Beijing time on May 25th news, Twitter stock price has now fallen below the level when Elon Musk (Elon Musk) bought his stake,wiped out more than $1.1 billion in profits he made in four weeks.
Twitter stock fell as much as 6.0% on Tuesday afternoon, heading for its lowest closing level since March 16. As of Tuesday’s close, Twitter’s shares fell slightly to 5.55% to close at $35.76. Twitter shares have fallen 31.1% since April 25, when they agreed to be bought by Musk at $54.20 a share. On April 25, Twitter closed at a high of $51.70.
According to Musk’s 13D filing with the Securities and Exchange Commission on April 5, Musk purchased his 73.12 million Twitter shares, or 9.1 percent, at a weighted average price of $36.157. Since Twitter’s current share price has fallen 1.5% from $36.157,Musk will lose $40.7 million on this investment. According to Twitter’s closing price of $51.70 on April 25,Musk could make $1.14 billion.
So far this year,Twitter shares have fallen 17.6%. Meanwhile, Tesla shares fell 40.8% and the S&P 500 fell 17.5%.
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