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https://www.torquenews.com/11826/bad-news-tesla-investors-elon-musk-considering-taking-out-tesla-backed-margin-loan-twitter
Bad News For Tesla Investors As Elon Musk Is Considering Taking Out Tesla-Backed Margin Loan For Twitter
And this brings us back to today. Earlier this morning Bloomberg came out with a report stating “Elon Musk’s bankers are considering providing the billionaire with new margin loans backed by Tesla Inc. stock to replace some of the high-interest debt he layered on Twitter Inc., according to people with knowledge of the matter.”
According to Bloomberg, Musk is reconsidering taking out Tesla-backed margin loans because the $13 billion dollar debt he took out to buy Twitter has an annual interest fee of $1.2 billion and this interest fee is causing stress on the social media platform’s financials.
Given Tesla shares are already down more than 50% year to date, this news will undoubtedly anger Tesla investors who have lost a fortune in 2022.
Having said that, as of now, no final decisions have been made considering the issue and it’s still too early to speculate how this news will affect Tesla shares.
Excellent. Let’s this oversized man baby bury himself even more because his ego won’t let Twitter fail.
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