Twitter shares plunge below Musk's average purchase price

The value of Twitter Inc shares decreased by 5.6 per cent in trading on May 24, 2022 dropping below Elon Musk’s average purchase price of the company's shares.

The head of Tesla Inc. stated that he owns 73.12 million shares of Twitter (about 9.2 per cent of the company) in early April 2022, Interfax reports.

Musk purchased Twitter shares at $36,157, according to Market Watch calculations based on the documents.

The value of Twitter shares was $35.76 as a result of trading on May 24.