Tesla stock sags on Twitter financing fears
Tesla stock is under pressure, due in part to investor worries that Elon Musk may need to unload more shares to finance his Twitter takeover.
Driving the news: Tesla is set to report earnings after the bell on Wednesday, with Musk expected to participate in the call.
The big picture: Musk remains on track to buy Twitter next Friday (Oct. 28).
- The $44 billion price-tag includes around $9 billion that isn't yet accounted for via bank debt, Musk's proceeds from an earlier Tesla stock sale or third-party equity commitments disclosed in May.
- Musk appears to have secured more outside equity, judging by some documents filed in the Twitter lawsuit, but it's unclear if he's gotten anywhere close to filling the gap.