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Tesla stock reacts as Musk Names New Twitter CEO

Twiter got a new CEO, Elon confirmed via tweet today!

Shares of Tesla rose early Friday before dropping into negative territory after the CEO of the electric automaker named a new chief for Twitter, the social media site he owns.

Tweet on Tesla stock

Tesla stock was recently down 1.5% as broader markets moved lower.

Some Tesla bulls have been eager for CEO Elon Musk to put someone else in the Twitter hot seat, giving him more time to focus on running his car company. In a tweet Friday, he named Linda Yaccarino to the job and said he would transition to other roles.

Separately, Chinese regulators said Tesla would update software in more than 1 million vehicles in that country to reduce collision risk.

Image: Tesla