Elon Musk drops out of $200bln club again as Tesla and Twitter tumble
Musk, the world's richest person, saw his fortune drop Tuesday by 5.4% to $192.7 billion as shares of $Tesla(TSLA.US$ slid almost 7% and shares of $Twitter (Delisted)(TWTR.US$ fell 5.5%.
The price of Tesla stock lost nearly 50% of its record high since November.
Meanwhile, the close price of $Twitter (Delisted)(TWTR.US$ on Tuesday dropped below where Musk bought it, wiping out more than $1bln in gains in four weeks, as reported by Market Watch.
Even though Musk's wealth dropped significantly yesterday, as it is the lowest since Aug. 26, he is still the wealthiest person on Bloomberg Billionaires Index. His last dipped below $200bln in wealth was this year in February but recovered soon in April.
Toni Sacconaghi, a Senior Analyst at Bernstein, focused on U.S. IT Hardware, alerted about the ongoing concern that Musk's deal with Twitter may face a margin call if the price of Tesla continues to drop.
Following the recent drop in TSLA's stock price, Musk appears to have just enough value in his unencumbered Tesla shares to fund the margin loan portion of his proposed Twitter financing. That said, at a TSLA share price of $621 or less, Musk would technically not be able to borrow the full $12.5B against his shares - in fact, if TSLA's stock price were to drop to $500/share, he would be ~$2.5B short. If the agreed upon deal price for Twitter is ultimately haircut by 10%, Musk could still borrow enough, even if Telsa shares dropped to ~$400.”
---the analyst wrote.
---the analyst wrote.
So mooers, are you bull on Tesla's stock price? What do you think about the Musk-Twitter deal?
Source: Bloomberg, Market Watch, Investing.com
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Giggles6984 : ugh ohh... Musk just fell out of two billion club. What ever shall he do?
I'd be happy to be in a hundred thousand club right about now. 
I'll get back there in another year or two. It sucks being off work for months without pay..... just glad I'm a smart investor! 
Spitfire Giggles6984: Hang in there. You are not alone. He should just shut his mouth and do his job. Same for FED. Wtf they need to announce every damn thing.
Hani Ayyash : Poor Elon. I hope he has someone to talk to...
philosophical finger Hani Ayyash:
Hani Ayyash philosophical finger: Hehe hehe
XRP0DOUBT : so has the rest of the market including crypto
RDK79 : Welcome to my world, minus a bunch of zeros..
TraderYOLO94 : "Club"? Who else has $200billion that I didn't know about?
warmhearted hunter : well for me in scle grease and call me slick. I once drove truck for a large company and he got caught trying to boost his stock if Elon plays his card right there are other options. Just sayin
warmhearted hunter : that is axle grease
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