By Hyunjoo Jin and Akriti Sharma
Shares of the microblogging site rose 3.5% to $44.35 in early trading, but were still significantly below Musk's offer price of $54.20 per share. Tesla shares were up nearly 4% at $882. "The removal of the 'firesale' risk, the fact Musk has already raised cash in case of a Twitter decision going against him and the comment that he'll buy back stock if Twitter deal gets dropped all builds into a positive bias for Tesla," said Mark Taylor, a sales trader at Mirabaud Securities.
Twitter and Tesla shares since Musk's $44 bln buyout offer: https://graphics.reuters.com/TESLA-STOCKS/TWITTER/gkvlgodnxpb/Pasted%20image%201660135947243.png"Elon's sale of over the past three days significantly increases odds the deal gets done, albeit at a slightly lower price $50-$51/share," Gary Black, managing partner of Future Fund LLC, said in a tweet.
Wedbush analyst Dan Ives said the likelihood of Twitter getting a settlement of $5 billion to $10 billion from Musk was starting to be factored into the social media company's stock. He also tweeted that Tesla would begin shipping the longer-range and higher-cost version of its battery-powered Semi commercial truck this year.
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