Bloomberg reported Musk will forge ahead with the acquisition of Twitter at $54.20 a share. Trading halted for a few minutes, has now resumed. Stock is up 15%. Bigger story here is a guy like Musk controlling a very colossal social media platform. This should get interesting.
Good. Now we can all avoid his every utterance being on every media outlet every damn day. Now go to twitter IF you want to know his thoughts on, well, just about everything. The ego of this man is beyond me.
Lol. Wow, they robbed him blind. I wonder who is financing this latest offer. BTW, TSLA is down 13.5% in the last 5 days, while the market as a whole is up around 3%.
Just looking at this situation without a bias and it looks like Musk was hoping Twitter would blink and lower their price. It didn't work, but Musk probably knew of this possibility before he tried to back out. His attitude is probably "no harm in trying". He is the richest man in the world and often thinks 7 or 8 moves ahead within his actions. In this case, Twitter didn't flench and Musk's only penalty is a few hundred thousand in legal fees and buying TWTR for the price he had already agreed to in the beginning.
I really do not care about Musk one way or the other, but you can already feel the even greater torrent of misinformation and lies that will be published all over Twitter now. It will turn into a Too Hot thread about COVID 19 with one outright lie and absurd implication after another without one thread of actual data or proof.
It'll be interesting to see if Trump returns. He has said he won't, but I don't see him turning down the free (apparently unfiltered) exposure that he would get on Twitter. If Musk leaves his account alone, I don't see why Trump wouldn't return.
If his 3d chess masterplan was overpaying for something that doesn't make money and no one can figure out how to monetize while devaluing the company that actually makes stuff, bravo
Well, that depends. Does he have a history of buying companies and going bankrupt with them or does he have a history of highly innovative start-ups that blossomed into large companies?
Neither. Even if you think Musk isnt some kind of charlatan, monetizing twitter is basically not possible lol. There are plenty of smart people who have tried already. Its only 'value' is that people use it.
Interesting that they show a $0.25 earnings (PE of 190) on Yahoo Finance for something that can't be monetized.
pretty sure I’ve read that Twitter has only been profitable for 2 of its 9 years of being a public company. Maybe this year will make it 3?
Why is everyone analyzing this is if he is making the investment on a financial basis? I don't think he's trying to make money; I think he's trying to advance right-wing aims and bask in narcissistic attention. And whatever wisdom he has in business, he's obviously a moron when it comes to public policy and needs constant attention. That said, he may be able to blow up Twitter, for whatever value that gives the political movement, a great financial loss. Perhaps he will think it is worth it
Yeah, rich people gobbling up a known media brand is basically what rich people with too much money do
