Tesla, Twitter shares drop as Elon Musk’s legal issues grow

Published May 12, 2022 2:36 pm

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Shares of Tesla and Twitter have tumbled this week. Investors are dealing with the fallout and potential legal issues surrounding Tesla CEO Elon Musk and his $44 billion bid to buy the social media platform. Shares in electric vehicle maker Tesla are down almost 16% so far this week. Twitter shares have fallen 9.5%. Both stocks have taken a bigger hit than the S&P 500, which is down 4.7% for the week. Investors are weighing legal troubles for Musk, as well as the possibility that his acquisition of Twitter could be a distraction from running Tesla, the world’s most valuable automaker.

Article Topic Follows: AP National Business

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