• About
  • Privacy Policy
  • Contact
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
No Result
View All Result
Home Companies

Analysts Say It’s Possible Elon Musk Won’t Buy Twitter

TND Newsdesk by TND Newsdesk
June 6, 2022
in Companies, Development, Social Networks
0 0
0

Analysts are exploring the possibility that Elon Musk might not buy Twitter, especially now that the company’s stock is trading at $39.30 a share.

In April, Tesla CEO Elon Musk agreed to buy Twitter for $54.20 per share. But while Twitter shares, which have been between $35 and $41 since May, eventually rose to $51.57 after Musk’s announcement, the stock is now trading for less than three-quarters of the agreed amount.

“I think Musk agreed to buy Twitter in a dramatically different market environment than we’re in today. Tesla has lost $400 billion in market capitalization. And the value of Twitter is significantly lower today, in the market’s eyes, than when the deal was first announced,” said Daniel Ives, managing director and senior equity research analyst at Wedbush Securities.

Ives backed Wall Street’s position that ‘54.20 is out the window.’ He explained that it is either a renegotiated, lower price for Twitter in the $42 to $45 range, or Musk tries to pay the billion-dollar breakup fee and walk away.

Although the bot controversy delayed the deal, legal experts pointed out that Musk can do little, as Twitter pointed out that their assessment of the bot on the platform could be wrong.

The sources for this piece include an article in Slate.

Tags: Elon MuskTwitter

Subscribe

About Tech News Day

In just 10 minutes you will have all your leadership tech news needs covered. Our Editors browse the top tech news sites for you, get rid of the fluff and post summaries of the best. Our content is created by trained professionals and enhanced for IT leaders using leading edge artificial intelligence.

About

Tech Newsday

Tech News Day picks the new, most relevant tech stories.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways.

SUBSCRIBE

Categories

  • Artificial Intelligence
  • Auto Tech
  • Blockchain
  • Careers & Education
  • Channel Strategy
  • Cloud
  • Communications & Telecom
  • Companies
  • Data & Ananytics
  • Development
  • Digital Transformation
  • Distribution
  • Diversity & Inclusion
  • eCommerce
  • Emerging Tech
  • End User Hardware
  • Engineering
  • Financial
  • Fintech
  • Future of Work
  • Governance
  • Government & Public Sector
  • Human Resources
  • Infrastructure
  • IoT
  • Leadership
  • Legal
  • Legislation & Regulation
  • Managed Services & Outsourcing
  • Marketing
  • Martech
  • Medical
  • Mobility
  • Not for Profit
  • Open Source
  • Operations
  • People
  • Podcasts
  • Privacy
  • Security
  • Service
  • Smart Home
  • SMB
  • Social Networks
  • Software
  • Supply Chain
  • Sustainability
  • Today's News
  • Top Stories This Week
  • Women in Tech
  • Home
  • Today’s News
  • About
  • Privacy
  • Contact

2022 Tech News Day

No Result
View All Result
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News

2022 Tech News Day

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00