Musk says Twitter is losing cash because advertising is down and the company is carrying heavy debt

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Elon Musk says Twitter is losing cash because advertising is still down sharply and the social media company is carrying heavy debt.

In a reply to a tweet offering business advice, Musk tweeted Saturday, “We’re still negative cash flow, due to 50% drop in advertising revenue plus heavy debt load.

”Other newsTesla says its first electric pickup has rolled off the assembly line. Elon Musk’s company tweeted a photo Saturday showing scores of workers in helmets and yellow vests surrounding the vehicle, which Tesla calls the Cybertruck.

 

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