A lot of people attribute the drop in share price to the acquisition being a bad deal for TSLA. Here is my alternate theory: By offering .122-131 share ratio, TSLA enabled an arbitrage opportunity. The closing prices today for TSLA and SCTY were 219.61 and 21.19, respectivly. This is a ratio of 0.096, which means you would sell TSLA and buy SCTY at that ratio, and have your TSLA returned back to you at .122-.131. You will notice the ratio of the AH closing prices is 0.126, right in the middle of the offer's range. So TSLA had to go down when SCTY went up.