But the company also got the bad news that the “uncertainty” of the incomplete deal has shaken investor confidence, causing Twitter to post major losses to its bottom line.
wait what? isnt it the other way around?
the bottom line affects the stock price
I’m not going to tell the richest man in the world how to run a business deal, but I gotta think that him forgoing the “due diligence” investigation part of the acquisition wasn’t the right move.
Maybe it was though... Maybe he goes to court, loses, has to pay the full 44 billion (which I think he’s really only on the hook for a portion of), tells the then sets the company to work collecting evidence of fraud in the sale of the company and fraudulent reports to the SEC.
Thanks for posting this.
I had almost forgotten about this story.
Glad to hear Musk is still fighting for the true member numbers of Twitter.
Worth repeating
“What did Musk’s analysis find? He says the data shows there are twice as many spam bots as Twitter claims there are: [emphasis mine]
Based on that analysis, Musk alleges that during the first week of July, spam bots accounted for 33% of visible accounts on the platform and about 10% of Twitter’s monetizable daily active users...”
Anyone making a guess on what the final price will be for Musk to buy Twitter? My guess, presuming the deal goes through, which I figure is about 90%, is that it will be $35-40 billion.
Im glad Elon has found a nice hobby that he can use to fill his time off of being the worlds richest guy.
Twitter is getting a taste of real world competition now that their fake numbers have been exposed.
That's an odd marketing strategy - unless your internal numbers fall below average. Reporting this way would indicate a larger number of bots, since they don't interact with ads. Twitter is treading on thin ice here, IMHO.