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Tesla Stock Steady As Report Says Musk Could Pledge Shares To Back Twitter Loans

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The Street

By Martin Baccardax Bloomberg reported late Wednesday that bankers could ask Elon Musk to use Tesla stock to back new Twitter margin loans. Tesla (TSLA) – Get Free Report shares bumped higher Thursday amid reports that bankers are preparing to ask Elon Musk to pledge more of his stock in the clean-energy carmaker against loans linked to his $44 billion purchase of Twitter. Bloomberg reported that Musk may need to provide margin loans to a group of bankers lead by Morgan Stanley as a way to replace the existing high-rate paper he arranged to fund the purchase earlier this year, given that debt …

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