What happened
Tesla (TSLA -8.33%) stock crashed hard on Thursday, down 6.2% at 10:35 a.m. ET, breaking a three-day winning streak of rising stock prices for the leader in electric cars.
So what
The most likely culprit for Tesla's decline today? That's still "volatility." And case in point, Tesla stock was down yesterday morning, too, before ending up sharply higher by the close of trading.
But there's actual news concerning Tesla today, too. For one thing, Elon Musk has confirmed that he plans to serve as CEO of Twitter (TWTR 2.65%) after he completes his buyout of the company. Tesla investors today might be concerned that taking over full managerial control of a social network will distract Musk from what they consider his primary job: running Tesla.
There's also word today that Musk has decided to bring in outside investors to help pony up some of the cash he will need to buy Twitter in the first place. As Bloomberg reports, a total of 19 investors, including everyone from billionaire Larry Ellison to Sequoia Capital to "a Saudi Prince," have been enlisted to provide $7.1 billion of Twitter's $44 billion purchase price.
