> ## Content Index > Fetch the complete content index at: https://www.europeans.today/llms.txt > Use this file to discover other available public pages before exploring further. # Elon Musk’s Twitter acquisition: Will he or won’t he? - URL: https://www.europeans.today/2022/07/15/elon-musks-twitter-acquisition-will-he-or-wont-he/ - Published: 2022-07-15T00:11:00.000Z - Updated: 2022-08-16T01:13:10.000Z - Description: Elon Musk is trying to withdraw his bid for Twitter after months of conflicting statements. What was supposed to be one of the biggest tech acquisitions in recent history will now most likely devolve into a legal battle impacting the involved stocks for the foreseeable future. - Author: Statista - Tags: Elon Musk, Stats, Stock Market, Tesla, X (Formerly Known As Twitter) ### Elon Musk is trying to withdraw his bid for *Twitter* after months of conflicting statements. What was supposed to be one of the biggest tech acquisitions in recent history will now most likely devolve into a legal battle impacting the involved stocks for the foreseeable future. ###### First published: July 2022. --- When Elon Musk tweets, the stock market reacts. The CEO and self-styled *“Technoking of Tesla”* has proven the manipulative weight of his social media activities time and time again, with him single-handedly causing the rise and fall of the meme-based cryptocurrency *Dogecoin* being just one of the more well-publicized examples. Now, his *Twitter* presence directly affects the platform he's focusing his output on. Since announcing his intention to buy the social media corporation for **$44 billion** on April 14, its stock price rose to over **$50** per share at the end of April, the highest since the general downswing affecting tech stocks starting at the end of 2021. ![](https://storage.ghost.io/c/15/40/1540bec0-7154-4feb-b8e1-97f579155b08/content/images/2022/07/27321-min.jpeg) ###### Some of the largest leveraged buyouts in history. | Statista Due to his hesitation to commit to the deal, *Twitter*’s stock tumbled again – and took *Tesla* with it at times as our next chart shows. While tech stocks, in general, are more volatile and prone to more significant fluctuations in value, some of the recent developments of *Twitter*’s and *Tesla*’s stock prices can indeed be traced to specific moments in the ongoing acquisition process, which is now likely to end in a [drawn-out litigation process](https://www.bloomberg.com/news/articles/2022-07-12/twitter-sues-to-force-musk-to-consummate-44-billion-buyout?ref=europeans.today). For example, when Musk announced putting the deal on hold due to concerns over fake accounts on the social media platform, its stock fell from **$45** to **$37** per share between May 12 and May 18\. In the same timeframe, *Tesla*’s share price went from **$728** to **$709**. As soon as Musk announced his intention of calling off the deal on July 8, his company's shares tumbled from **$752** to **$699** over the course of three days, while *Twitter*’s stock price also fell from **$37** to **$34**. Despite the electric car (BEV) manufacturer achieving its first profitable year excluding carbon credits in 2021, the scrutiny of its business practices and market standing has intensified over the last couple of months. For example, while *Tesla* still had a market share of **13.6%** in the BEV market in the first half of 2022, its competitors *SAIC*, *BYD* and *Volkswagen* are closing the gap at a rapid pace. Musk also recently made headlines for laying off **10%** of *Tesla*’s employees amid the current economic downturn that forced many tech companies to reduce their workforce. On the other hand, the *Tesla* CEO was reported to allegedly underpay workers at his Gigafactory in Grünheide, Brandenburg and, in turn, not being able to fill the open positions needed to boost production quotas at the car company’s newest factory. ![](https://storage.ghost.io/c/15/40/1540bec0-7154-4feb-b8e1-97f579155b08/content/images/2022/07/27768-min.jpeg) ###### Twitter’s and Tesla’s stock price development since Elon Musk’s acquisition announcement. | Statista ![PMP Magazine](https://storage.ghost.io/c/15/40/1540bec0-7154-4feb-b8e1-97f579155b08/content/images/2021/09/end-flat-1.png "PMP Magazine") --- | [![](https://storage.ghost.io/c/15/40/1540bec0-7154-4feb-b8e1-97f579155b08/content/images/2022/08/feedback2-flat.png)](https://forms.gle/tRe7igVtMPaiAPtJ8?ref=europeans.today "Leave some feedback") | [![](https://storage.ghost.io/c/15/40/1540bec0-7154-4feb-b8e1-97f579155b08/content/images/2022/08/comment2-flat.png)](#comments "Leave a comment") | | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------- | --- ### **— AUTHOR —** ▫ *Florian Zandt, Data journalist at [Statista](https://www.europeans.today/author/statista).* --- ##### Sources **Text:** This piece was first published in [Statista](https://www.statista.com/chart/27768/twitter-tesla-stock-price-development-since-elon-musks-acquisition-announcement?ref=europeans.today) and published in PMP Magazine on 15 July 2022. - **Cover:** Flickr/[NVIDIA Corporation](https://www.flickr.com/photos/nvidia/16660212029?ref=europeans.today). (Licensed under a [Creative Commons Attribution-ShareAlike 4.0 International License](http://creativecommons.org/licenses/by-sa/4.0/?ref=europeans.today).) ![Creative Commons License](https://i.creativecommons.org/l/by-sa/4.0/88x31.png "Cover photograph license")