Let’s face it: Elon Musk has been in the news a lot recently. But, while everyone is talking about his bid for Twitter Inc (NYSE:TWTR), Tesla Inc (NASDAQ:TSLA) stock has dropped nearly 20% in the last week alone. Last Friday, the stock opened above $1,000 a share. Mid-morning Thursday, shares were at $831.
Musk is by far the biggest Tesla shareholder with 172 million shares. Tesla’s stock has dropped more than $180 in the last week, at press time. This means that Musk’s stake has taken a hit of more than $30 billion in the last five trading days alone.
By The Numbers: This is a greater loss than the value of eBay Inc (NASDAQ:EBAY) $29.53B market cap, DoorDash, Inc (NYSE:DASH) $28.65B market cap, Expedia Group, Inc (NASDAQ:EXPE) $29.68B market cap and Coinbase Global, Inc (NASDAQ:COIN) $27.20B market cap.
Longtime Tesla investors know the stock is prone to big moves. After reaching around $1,200 a share in January, the stock plummeted to $829 and was trading in the $700s at one point in February and again in March. Then, it came all the way back up to the thousands where it has dropped from.
Win some, lose some. It looks like Musk is still buying his beloved Twitter, but now Tesla is taking a big hit.
