Elon Musk announced through Twitter (NYSE:TWTR) on Tuesday evening that he had acquired the legendary English soccer team Manchester United (NYSE:MANU). Later, he said he was joking. Nevertheless, the tweet is another source of concern for Tesla (NASDAQ:TSLA) investors.
Roth Capital analyst Craig Irwin said in April that ” Tesla is Elon Musk,” while discussing any potential impact on Tesla (NASDAQ:TSLA) shares resulting from Musk’s probable acquisition of Twitter (NYSE:TWTR). Whatever impacts Musk has an effect on Tesla (NASDAQ:TSLA)and Tesla shares (NASDAQ:TSLA).
Ultimately, it is difficult to picture anyone else operating Tesla(NASDAQ:TSLA). Gary Black, cofounder of Future Fund Active ETF, raised the topic during Tesla’s annual shareholders meeting in August by asking Elon Musk about managerial succession in light of his Twitter (NYSE:TWTR) proposal. Musk responded, “I intend to stay with Tesla as long as I can be useful,”
Nonetheless, if Musk is forced by the courts to acquire Twitter – Twitter (NYSE:TWTR) is suing to finalize the deal on its original terms – he would control or own Tesla (NASDAQ:TSLA), SpaceX, The Boring Company, Neuralink, and Twitter (NYSE:TWTR).
He will not purchase Manchester United (NYSE:MANU). Musk tweeted just after midnight Eastern time, “No, this is a long-running joke on Twitter. I’m not buying any sports teams.” However, that is still a considerable amount. These things may consume a portion of Musk’s attention or cause distractions that can develop into investor-level occurrences.
The fact that Manchester United(NYSE:MANU) is a publicly traded company also presents a problem. The movement of this stock will matter to regulators. Musk has more than one hundred million Twitter followers. Regarding three hours after it was posted, his tweet about Manchester United (NYSE:MANU)had attracted almost 250,000 comments. On Wednesday, the market will be focused on Manchester United stock as well as Musk’s Twitter account in search of clarification.
On the other hand, purchasing Manchester United (NYSE:MANU)would not be entirely negative. Tesla bulls, always seeking a silver lining, have found one in Manchester United’s (NYSE:MANU) possible acquisition. The team has a degree of popularity comparable to that of the New York Yankees. All of those Manchester United supporters may be prospective Tesla(NASDAQ:TSLA) clients. This proposal has been presented, but Tesla investors must delve far into Twitter comments to discover it.
Musk can certainly afford to purchase the club if he desires to do so. Manchester United’s market value is approximately $2.1 billion. Musk has a net worth of over $260 billion.
Musk’s personal financial outflow is not particularly relevant. Investors in Tesla(NASDAQ:TSLA) must determine how to track and comprehend their company’s CEO.
Featured Image : Megapixl © Sergiomonti
