10/5, 7:15 PM (Source: TeleTrader)
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Tesla shares fall over 5% on concerns over Twitter deal

Tesla Inc.'s shares fell over 5% on Wednesday following updates that the world's richest man Elon Musk is ready to finish the deal with the social network's company at $54.20 per share.

During the day, media reports suggested that both parties are still discussing the possible takeover. Yesterday, it was known that Musk submitted a SEC filing to the US Securities and Exchange Commission (SEC), confirming that conversations were held between both parties.

At 1:15 pm ET, Tesla's shares fell by 5.03%, selling at $236.94. Meanwhile, Twitter's decreased by 0.81% to go for $51.54.

Baha Breaking News (BBN) / JG