Both Twitter Inc. and Tesla saw their share prices drop on Thursday following multibillionaire Tesla CEO Elon Musk’s offer to buy Twitter for $43 million in cash to take the company private.
Twitter (TWTR) stock opened Thursday $48.37 per share — up from Wednesday’s close of $46 — and closed at $45.18, down 1.5%.
Meanwhile, Musk’s Tesla (TSLA) also suffered a loss in the wake of Musk’s bold move, opening at $999 per share Thursday and ending the day at $985, down $3.6%. Tesla closed on Wednesday at $1,022.
Twitter Inc. has a current market cap of nearly $34.6