Syndicated radio host Ben Shapiro said Monday that Twitter CEO Elon Musk is feeling pressure running one company while his other companies lose value.
According to The Guardian, Musk’s Tesla has lost half its market value since its bid for Twitter in April. Musk also owns SpaceX which has lost considerable value in recent months.
“This is not unusual; anytime the market perceives Musk as a volatile figure, his stock drops and then it always comes back,” said Shapiro. “This happened with Tesla when Musk went on Joe Rogan’s show and smoked pot.”
Tesla shares were jumping premarket Monday amid news that Musk would stop running Twitter and focus his attention back to the engineering company that he founded.
“It’s been a pretty chaotic couple of months for Musk,” Shapiro said. “Much of what he has done has been excellent. For example, the breaking of new Twitter files, demonstrating exactly what Twitter was doing to shut down free speech before Musk took over.”
Shapiro said Musk was perceived as a libertarian when he took over the platform but given his recent actions of suspending accounts and bringing them back with poll results, Musk has left a lot of questions unanswered.
“What’s funny about that is that the entire media is caterwauling, screaming to the heavens, screaming to God about why exactly the standards are so opaque,” stated Shapiro.
“Welcome to the party pal; it’s been like this for the last 10 years,” he added.
