Is Tesla's stock crashing because Elon Musk is distracted by Twitter? – Quartz

Photo: Aly Song (Reuters)Tesla is an electric car company. But in the last few months, it has become something else as well: a bellwether for Elon Musk’s popularity with investors. As shareholders worried about Musk, Tesla’s CEO, being distracted by his high-profile, tumultuous acquisition of Twitter, Tesla’s share price began to reflect their unease. Its board has expressed concerns about him spreading himself too thin. From the start of 2022 to its year-to-date low earlier this week, Tesla stock lost a massive 58% of its value. In the four weeks since Oct. 27, when Musk actually took over Twitter, Tesla stock is down over 18%. And that includes a slight rally in the last few days, when analysts began to upgrade the shares slightly—a sign they believe the stock is beginning to be undervalued. Musk has said that he will appoint someone to take his place at the head of Twitter, although he hasn’t said when. As the bumps in the graph above show, though, Musk’s Twitter play isn’t the only thing on the market’s mind. Tesla stock fell in the first quarter, and rose again, before the Twitter deal was on the cards. So what else is driving it? Not
Read More