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Tesla, Twitter shares drop as Elon Musk’s legal issues grow

Tesla CEO Elon Musk attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide,...
Tesla CEO Elon Musk attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, Tuesday, March 22, 2022. Shares of Tesla and Twitter have tumbled this week as investors deal with the fallout and potential legal issues surrounding Tesla CEO Musk and his $44 billion bid to buy the social media platform. Of the two, Musk's electric vehicle company has fared worse, with its stock down almost 16% so far this week to $728. (Patrick Pleul/Pool via AP, File)(Patrick Pleul | AP)
Published: May. 12, 2022 at 3:23 PM PDT
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DETROIT (AP) - Shares of Tesla and Twitter have tumbled this week. Investors are dealing with the fallout and potential legal issues surrounding Tesla CEO Elon Musk and his $44 billion bid to buy the social media platform.

Shares in electric vehicle maker Tesla are down almost 16% so far this week. Twitter shares have fallen 9.5%. Both stocks have taken a bigger hit than the S&P 500, which is down 4.7% for the week.

Investors are weighing legal troubles for Musk, as well as the possibility that his acquisition of Twitter could be a distraction from running Tesla, the world’s most valuable automaker.

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