The takeover of Elon Musk of Twitter sent Tesla’s stock price on a rollercoaster ride this year as its value correlated — largely negatively — with any development at the social media company. But SpaceX’s investor backing seems immune to the drama.
When Musk first announced his intention to acquire Twitter in April, it was just weeks after Tesla stock hit its price peak of $381.82 on April 4, according to data from Yahoo Finance. It’s been down pretty consistently since then — save for the few outbursts where it looked like the Twitter transaction might not go through after all or Musk might step down as Twitter CEO — opening today at $139.34 a share, a reduction from 63.5% from this year’s high.
The chatter around Tesla stock has gotten louder lately too, as Wall Street analysts penned the investment amid predictions that Musk will sell more Tesla stock to prop up Twitter, making them less confident it’s a good buy.
As all this drama continues to unfold, SpaceX, one of Musk’s other companies, seems not only shielded from the Twitter noise, but largely undeterred.