Mass suicides reported at Twitter HQ, Reddit is next
(twitter.com)
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What the duck? Can he even pull this off? I know he is very intelligent but he is risking a lot here, is he not? How much money does twitter make and from what, twitter seems like a very bad investment? I hope this does not end up biting Elon in the ass.
Was just watching news on it about half an hour ago, Twitter stock was creeping upwards, about a penny per two seconds.
Wall Street Bets/GameStop move to kill Twitter?
F Ross Johnson and RJR Reynolds?
Of course the stock is going up. If you buy the stock now at $45 you can cash out at $54 when Elon buys it from you... easy 20% profit.
Except TWTR won't sell to Elon, and then he has an excuse to sell his stock at approaching $54 instead of $45 - more profit for Elon when he sells and leaves others holding the bag.
Twitter shareholders know that they will never get a better deal than what Elon Musk is offering them.
I don't think it is likely they refuse to sell.
It's current year plus 8 and people still think the owners of massive influence platforms and companies are motivated by profit and not ideology
He's not offering $54 to shareholders, he's offering it to the company. If they accept, the shares are recalled in exchange for $54 per share.
The only decision here is by the board, and they won't sell because they don't want to. This isn't even like a vote at a shareholder meeting.
It was $70+ just months ago.
It's not about money though. Shareholders are Vanguard, the Saudi's, et al - they will never sell their #1 propaganda tool for any price and all they need is a justification.
It was $70+ just months ago is a justification - doesn't matter if it's realistic.
This is the 4D chess that makes a billionaire
What's sad is that this used to be normal behavior for successful businessmen. Overregulation and the managerial class taking over corporate America weakened our economy and lowered expectations so much that it looks like a bold unconventional move from a wildcard maverick.
Parag is like the anti-Elon.
In short, he can but the ball right now is in the board's court. They can accept his offer (in which case the shares are recalled by the company at $54.20) or they can refuse.
If they refuse, Elon can try to buy a 50.1% stake on the open market. Attempting to do so would be... expensive.