New Delhi: The world’s richest man Elon Musk has captured the social media platform Twitter. In the midst of all this, it has come to the fore that Elon Musk has suffered the biggest loss since buying Twitter. Musk’s electric car company Tesla is buying Twitter for ₹44 billion, or Rs 3.37 lakh crore, after reports of a sharp fall in its shares on Tuesday. As a result, Tesla’s mCap fell three times the value of Twitter.

Investors are concerned that
Musk will have to raise another $21 billion for $44 billion to buy Twitter. Investors are now concerned that the Tesla CEO may sell his shares for $21 billion to management. Tesla shares fell 12.2 percent on Tuesday amid concerns. As a result, Tesla’s mcap fell by $126 billion, or Rs 9.7 lakh crore, in a jiffy. In the current deal, the fixed price for Twitter is almost three times that of Rs 3.37 lakh crore.

Heavy selling continues in tech stocks
However, the fall in Tesla’s stock comes at a time when the market is witnessing the most decline, especially in tech stocks. The Nasdaq fell the most 4 percent on Tuesday. As a result, the tech heavy index fell to its lowest level since December 2020. Fears of a slowdown in global growth, inflation hitting decade highs and aggressive interest rate hikes by the Federal Reserve are key.

meanwhile, Twitter’s share price fell on Tuesday. The stock of the social media company was trading at .6 49.68, down 3.9 percent on Tuesday. Musk’s offer is set at 54.20 per share of the social media company. Even after the highest price was set in the deal, the decline in Twitter’s stock has taken experts by surprise.

Tesla shares fell $7.03 (0.70 percent) on Monday to close at 8998.02, That was before the Tesla stock sell-off in November. The stock has lost nearly 20 per cent in the past one month. So far this year, it has declined by about 27 per cent. However, Tesla’s stock gained 24.36 percent from a year ago. Tesla’s stock hit a high of $1230 in November last year. Since then this stock has been a victim of continuous selling.