Twitter stock has lost all of its gains since Elon Musk disclosed his stake

Posted on AllSides May 16th, 2022
From The Center
Pavlo Gonchar | Lightrocket | Getty Images

Twitter shares have given up all of their gains since Elon Musk disclosed last month that he’d bought a 9% stake in the company.

The stock tumbled 6% on Monday to $38.25, falling below the $39.31 closing price on April 1, the last trading session before Musk revealed his minority ownership in Twitter. Investors have been dumping the stock on concern that Musk is going to abandon his agreement in late April to purchase Twitter for $44 billion, or $54.20 a share.

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