- Tesla CEO Musk owns nearly 1/10 of Twitter.
- Twitter stock soars 20% in premarket.
- Tesla stock is up by 1% in premakret.
Tesla (TSLA) CEO Elon Musk disclosed early on Monday that he had taken a 9.2% stake in Twitter. Elon Musk of course is one of the most-followed people on Twitter with over 80 million followers. Now he has put his money where his mouth is and taken a decent stake in the social media company.
Tesla Stock News
TSLA stock has not reacted to the news but is 1% higher in Monday's premarket. Tesla closed last week after having gained over 7% as the recovery in global stock markets continued. Over the weekend Tesla released delivery data for the first quarter and that was a record number at 310,000. The number was slightly short of analyst estimates despite being a record. Analysts had feared that ongoing supply chain issues might hit deliveries, but this number should at least give comfort in that regard. Tesla said it had managed despite supply chain issues and a factory shutdown. This is referring to China, which is battling an outbreak of the Omicron strand of covid and has introduced multiple city lockdowns that have affected manufacturing sites across China. Tesla has also announced that its first quarter earnings will be released on April 20.
Tesla Stock Forecast
Tesla stock has made a strong recovery from the Ukraine lows and like most stocks has rallied significantly. Breaking $945 was key, and now the momentum is behind the stock. The delivery numbers should underpin recent gains. The next big resistance comes at $1,210. Note the Relative Strength Index (RSI) getting close to overbought.
Tesla (TSLA) stock chart, daily
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD holds steady above 1.0800, looks to post weekly losses
EUR/USD trades marginally higher on the day above 1.0800 after the data from the US showed that Durable Goods Orders declined by 0.8% in September. Nevertheless, the pair remains on track to close the fourth consecutive week in negative territory.
GBP/USD extends recovery to 1.3000 area
GBP/USD extends its recovery and trades at around 1.3000 in the American session on Friday. The US Dollar struggles to gather strength as the market mood remains positive heading into the weekend, allowing the pair to hold its ground.
Gold fluctuates in narrow range below $2,750
Gold stays in a consolidation phase and fluctuates in a relatively tight range below $2,750 on Friday. US Treasury bond yields stabilize in the American session, making it difficult for XAU/USD to gather directional momentum.
Crypto Today: XRP, Bitcoin and Ethereum decline as Ripple files response to SEC appeal
XRP loses over 1.30% as Ripple's executive confirms the filing of an important document in the appeals process in the SEC lawsuit. Bitcoin corrects less than 1% and sustains above $67,500. Ethereum is down nearly 0.20%, holding above the key support level of $2,500.
US elections: The race to the White House tightens
Trump closes in on Harris’s lead in the polls. Neck and neck race spurs market jitters. Outcome still hinges on battleground states.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.