Shares of Twitter Inc. (TWTR) fell 2.0% in premarket trading, putting them on track for a seventh-straight loss, as uncertainty over the buyout buy Tesla Inc. (TSLA) Chief Executive Elon Musk continues to grow. That would be the social media company's longest losing streak since the seven-day stretch that ended Dec. 20, 2021. The stock had tumbled 19.1% amid a six-day losing streak through Friday, highlighted by the 9.7% drop in Friday after Musk tweeted that the deal was "temporarily on hold" while he looked into spam/fake accounts. That marked the biggest six-day loss since the stock plunged 21.8% over the six days ended Nov. 2, 2020. There was more uncertainty created over the weekend, when Musk tweeted there was some chance that the fake/spam/duplicate tweets might be over 90% of daily active users. Meanwhile, Tesla's stock was little changed ahead of the open. Year to date, Twitter shares have slipped 5.8% and Tesla's stock has tumbled 27.2%, while the S&P 500 has declined 15.6%.
(END) Dow Jones Newswires
May 16, 2022 08:31 ET (12:31 GMT)
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