Twitter’s stock falls below where Elon Musk bought it, turning a $1.1 billion profit into a $40 million loss

Easy come, easy go, as shares of Twitter Inc. fell below where Elon Musk bought it, wiping out more than $1.1 billion in gains in four weeks.

The social-media company’s stock
TWTR,
-5.55%

sank 6.0% in afternoon trading Tuesday, toward the lowest close since March 16. It has tumbled 31.1% since it closed at a high of $51.70 on April 25, which was the day Twitter agreed to be acquired by Musk for $54.20 a share.

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