Tesla Sinks After CEO Musk Agrees to Buy Twitter in $44 Billion Deal
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Tesla Inc. shares fell Monday afternoon following news that Chief Executive Elon Musk is buying social media company Twitter Inc. in a $44 billion deal.
Shares of the electric-vehicle company ended 0.7% lower after Twitter said it agreed to be acquired by Musk for $54.20 per share in cash. The shares were among the five biggest weights on the S&P 500 Index, which rose 0.6%.