October 5, 2022 (Investorideas.com Newswire) Analysis of Google search data reveals that online searches for “Buy Tesla stock” exploded 174% worldwide on the 4th of October, the same day that the billionaire and Tesla co-founder, Elon Musk decided to go ahead with his bid to buy the social media platform, Twitter, after previously backing out of the deal.
Analysis by AskGamblers.com reveals that online interest for buying Tesla stock soared to almost triple the average volume in one day as the co-founder of Tesla decided to move forward with the deal. In a letter, Musk stated that he would purchase Twitter at the formerly agreed price of $54.20 per share. When the deal was first negotiated back in April 2022, the Twitter stock price soared by 20% amid the possibility of the purchase whilst the share price of Musk’s company, Tesla also grew.
A spokesperson from AskGamblers.com commented on the findings: “Elon Musk’s bid to buy Twitter is one of the biggest deals being made this year, making headlines around the world after Musk made the unexpected u-turn to go ahead with the purchase of the social media platform. The deal will likely have a ripple effect on the stock market, particularly with businesses tied to Musk, such as Tesla. The findings offer a fascinating insight into the future of these companies and the influence that Musk has on the stock market, whether it be a single tweet or a monumental deal, anything involving Musk tends to peak the interest of investors around the world. It will be interesting to see how share prices of Twitter and Tesla perform as this deal is made.”
All data gathered from Google Trends
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