May 13, 2022
[1 min Read]
Twitter, Inc. (NYSE:TWTR) Stock is down 15.53% today and trading around $45.08 per share. Usually Twitter, Inc. shares trade within the $3.82 range, so this move is significant. This comes on news that the Twitter deal is on hold, even though Elon Musk is committed to the acquisition.
Elon Musk has said his $44BN deal for Twitter is “temporarily on hold” due to the social media platform's revelation that fewer than 5% of its monetizable daily active users are false or spam accounts. The world's richest man tweeted in the past hour stating that he has put the deal on hold pending deals...
With Twitter stock down and Tesla stock up, investors expect Musk to break his $44 billion take-private deal. The Tesla and SpaceX CEO followed up by saying that he's "still committed to the acquisition." Tesla owner says $44bn deal has been paused until he gets more information about fake accounts.
Time will tell, but I think this provides Musk an opportunity to potentially back out of the deal. I think we will continue to see the price drop in the near term, so short-term Bearish on Twitter.