When Tesla CEO Elon Musk entertained the idea of buying Twitter, markets did not think it would go through. However, Musk’s unconditional offer tied him to closing the deal. Upon the Twitter buyout closing, Tesla’s (TSLA) stock broke down.

Investors are not convinced that Musk may run both firms effectively. Although he is running SpaceX without issue, Twitter is different. The microblogging site is highly contentious for users politically. Advertisers are potentially taking political sides. Some corporations are halting advertising activities on Twitter. This cuts off the revenue that Twitter needs to pay its debts.

Tesla customers who read Musk’s multiple daily tweets may not like what he has to say. His views could alienate existing customers. They may decide to buy an electric vehicle from Lucid (LCID), Rivian (RIVN), Mercedes-Benz, or Ford (F) instead.

Tesla halted production in Shanghai as part of a year-end break. This suggests that the company has too much supply exceeding demand.

Tesla has unfavorable valuations. After two stock splits, shares are 1/15 of their original value. The price-to-earnings is one of many metrics indicating the stock is over-priced. Markets will assign a lower multiple if the company posts weak growth in its quarterly results.

Look at $100 as a support price. It might fall below that.