Tesla shares fell following the announcement of the acquisition of Twitter by U.S. billionaire CEO Elon Musk for about $44 billion.
What happens when Musk buys Twitter?
Shares in the electric car company closed down 0.7%, after Twitter approved Musk's acquisition for $54.20 per share in cash, Bloomberg News reported.
Whats the big deal about Elon Musk buying Twitter?
The shares were among the top five on the S&P 500, which rose 0.6%.
Has Twitter accepted Elons offer?
Craig Irwin, an analyst at Roth Capital Partners, said that although the decline in Tesla shares could reflect investors' "little concern about focus," the reaction is unjustified.
Why did Twitter sell to Elon Musk?