Risks for EV company include sale of stock to fund takeover and spill-over political effects
Elon Musk’s public description of how he plans to run the Twitter show could currently be transcribed in fewer than 280 characters, so it’s not surprising that everybody, from EU commissioners down, is fretting about what happens when a maverick billionaire gets the controls of a divisive social media site.
The overlooked constituency in the excitement, however, is the shareholders in Tesla, Musk’s electric car company that has a better chance of making a positive contribution to civilisation. Its stock slumped 10% in early trading on Tuesday as the market digested the meaning of the boss’s latest adventure.
