Tesla stock pulls way back after report CEO Elon Musk willing to buy Twitter at original bid price

Shares of Tesla Inc. /zigman2/quotes/203558040/lastsale TSLA +0.56% edged 0.7% higher in afternoon trading Tuesday, to pull way back from an earlier gain of as much as 6.2%, after reports that the electric vehicle maker's chief executive, Elon Musk, is willing to buy Twitter Inc. at the original bid price. Tesla's stock has been hurt by Musk's $44 billion bid to buy Twitter, as investors worried about Musk having to sell off some of his Tesla holdings to pay for the deal, and that owning Twitter would distract Musk from running Tesla. Since April 25, when Twitter agreed to be acquired by Musk, Tesla's stock has fallen 26.6% while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.29% has lost 12.4%.

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Tesla Inc.

US : U.S.: Nasdaq

$ 246.25

+1.37 +0.56%

Volume: 67.66M

Sept. 25, 2023 12:36p

P/E Ratio

69.98

Dividend Yield

N/A

Market Cap

$777.25 billion

Rev. per Employee

$735,427

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,332.80

+12.74 +0.29%

Volume: 0.00

Sept. 25, 2023 12:36p