Tesla CEO Elon Musk said Thursday that “Tesla is in my mind 24/7,” in an attempt to calm investors worried about being distracted by the Twitter deal that has affected his Tesla car company stock.
Sharing a meme on his Twitter handle, he insisted “so it may seem like the following, but not true.”
“To put it bluntly, I’m spending 5% (but actually) of my time acquiring Twitter. It’s not rocket science! Yesterday was Giga Texas, today it’s Starbus, Tesla I have 24/7 in my mind,” Elon tweeted.
This comes after Twitter shares fell 20 percent after the announcement of the purchase of the social media platform, media reports said.
Mr Musk had earlier said that Twitter Inc.’s holdings had been temporarily suspended due to the existence of fake accounts. “Twitter’s agreement to temporarily block pending details by supporting accounts that spam / fake accounts actually represent less than 5 percent of users,” Mr Musk tweeted, tagging a media report.
The announcement of the mask came before the start of trading on the American Stock Exchange.
In pre-market trading, Twitter Inc shares crashed at USD 37.10, down 17.7 percent from the previous day’s close.
Mr Musk reached an agreement with Twitter in late April to acquire the social network at 54 54.20 per share in a transaction valued at approximately USD 44 billion. He later said he wanted to revolutionize Twitter’s role in public debate because “freedom of speech is the foundation of a functioning democracy, and Twitter is the digital town square where issues important to the future of humanity are debated.”
The billionaire previously said he was prepared to spend 21 21 billion from his own funds to seal the deal and that Morgan Stanley Senior Funding, Bank of America, Barclays and other institutions would provide .5 25.5 billion in loan financing, including some US dollars. 12.5 billion loan must be secured with Tesla shares.
(Except for the title, this story was not edited by NDTV staff and was published from a syndicated feed.)