“Tesla will only benefit from the Twitter case”: Musk relaunches

The Twitter case is throwing Tesla investors into turmoil. Wall Street analysts are worried but it was Musk himself who promised – explaining in detail why – Tesla will benefit from his mishap on Twitter. It all started with the release of SEC filings on Wednesday that revealed Elon Musk sold 3.6 billion worth of Tesla stock.

Analysts speculate that the proceeds from this sale will help cover Twitter’s deficits, with the accusation that Musk is “using Tesla as his ATM to fund Twitter.

Controversy aside, certainly the fact that Elon Musk has bought Twitter and is dedicating himself so much to his social network scares investors. Also because – for the third time – after declaring (last April) that he had no intention of selling Tesla shares, then Musk himself sold another 22 million shares, for a value of about 3.6 billion dollars. That brings the total amount of Tesla stock Musk sold this year to $23 billion.

But now Musk explains that – in the long run – Tesla will benefit from its “coexistence” with Twitter.

Declining sales of Tesla’s EVs as countries around the world face their own recessions amid the continued downfall of the pandemic isn’t necessarily a shock. But it poses a problem for Tesla and its owner, who continues to use his stock to fund its remodeling of Twitter for its ventures to build the “everything app” it refers to under the name “X.”