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Benzinga
Benzinga
Business
Shanthi Rexaline

Tesla Shares Will Remain Under Pressure After Twitter-Deal News, Analyst Says — Unless Elon Musk Gives Clarity

Elon Musk Daniel Ives Gary Black NYSE Twitter Inc. Morgan Stanley

Elon Musk on Tuesday renewed his interest in Twitter Inc. (NYSE:TWTR) for the originally agreed-upon deal value of $44 billion.

What Happened: Neither party has so far asked to put the lawsuit filed in the Delaware Chancery Court on hold, prompting Judge Kathaleen McCormick to rule on Wednesday that the five-day trial, scheduled to begin on Oct. 17, is on track. Shares of Musk’s flagship electric vehicle business Tesla Inc. (NASDAQ:TSLA) came under significant selling pressure amid the development.

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