Twitter Deal: Elon Musk sold huge shares of Tesla in two days [TKB Tech]

Elon Musk has bought Twitter Inc for $44 billion. The deal was finalized on 25 April. Now news has come that to raise money after this deal, Elon Musk has sold shares of Tesla on a large scale. In fact, according to the report submitted to the Securities and Exchange Commission (SEC), Elon Musk sold about 4.4 million shares of Tesla on April 26 and 27. This selling is being seen by linking it to the Twitter deal.

The 4.4 million shares of Tesla sold by Elon Musk are valued at around $4 billion. This information has come out from the filings submitted to the regulator. However, Elon Musk himself has tweeted and said that there are no plans to sell shares of Tesla in the future. Significantly, the Twitter company has been sold, and has been bought by the richest man in the world, Elon Musk. This deal has been done for 44 billion dollars. Elon Musk has made a cash deal in Twitter Inc. for $ 54.20 per share. After the process of the deal, Elon Musk will have 100% stake in the company and Twitter will become his private company.

Tesla shares under pressure

Since the deal, Elon Musk has started raising funds. In this episode, he has sold shares of Tesla. At the same time, pressure is being seen in Tesla’s shares since the announcement of buying Twitter. On Thursday, Tesla Stock fell 0.45 per cent to close at USD 877. Not only this, Tesla’s shares have fallen more than 13.50 percent in the last one month. However, in the midst of all this, there is a slight increase in the stock of Twitter. Twitter Inc’s stock has lost more than 21 percent in one month. Experts also believe that after coming into the hands of Elon Musk, big growth is expected in the company. Elon Musk himself has also said that there is a lot of potential in Twitter.