On May 25, Beijing time, Twitter's share price has fallen below the level when Elon Musk bought his shares, erasing more than $1.1 billion (about 7.3 billion yuan) in profits he earned in four weeks** Twitter shares fell 6.0% on Tuesday afternoon, heading for their lowest closing level since March 16. As of Tuesday's close, Twitter's share price decline narrowed slightly to 5.55% to close at $35.76**
Twitter's share price has fallen 31.1% since it agreed to be acquired by musk at $54.20 per share on April 25. On April 25, twitter closed at a high of $51.70.
According to Musk's 13D document submitted to the U.S. Securities and Exchange Commission on April 5, musk purchased 73.12 million twitter shares, or 9.1% of his shares, at a weighted average price of $36.157. Since Twitter's current share price has fallen 1.5% from $36.157, musk will lose $40.7 million on this investment. According to Twitter's closing price of $51.70 on April 25, musk can earn $1.14 billion.
So far this year, Twitter's share price has fallen 17.6%. Meanwhile, Tesla shares fell 40.8% and the standard & Poor's 500 index fell 17.5%.
