The EV-maker’s issues are no secret. It has been battered by the one-two punch of disappointing quarterly deliveries and Chief Executive Officer Elon Musk’s surprise decision to revive his offer to buy social media platform Twitter.
The Twitter deal comes with the possibility that Musk will be forced toFor ardent Tesla fans like ARK Investment Management’s Cathie Wood, the selloff offers a chance to buy more of the stock at its cheapest price in months.
Mom-and-pop traders were also big buyers, with nearly $540 million in net purchases over the past five trading days, Vanda Research said. Musk’s purchase of Twitter adds a few more wrinkles. In addition to the uncertainty around the deal’s financing, investors are also worried that the billionaire could be pushing himself beyond his limits with so many demanding ventures.
“Musk may be a genius businessman, but he is still a human being and a day is still only 24 hours long.” Zacks owns Tesla stock through its All-Cap Core fund.
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