Oct 19, 2022 - Economy
Tesla stock sags on Twitter financing fears
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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.
