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On again?
Posted on 10/04/2022 9:39:13 AM PDT by shadowlands1960
Twitter stock was halted twice and rose around 13% in midday trading Tuesday following a report by Bloomberg that Elon Musk has proposed to move forward with his deal to buy the company at the originally agreed upon price of $54.20 per share. The news comes as the the two sides have been preparing to head to trial in two weeks over Musk’s attempt to pull out of the $44 billion acquisition agreement, which Twitter had sued him to complete. Twitter CEO Parag Agrawal had been set to be deposed by Musk’s lawyers on Monday, and Twitter’s lawyers had planned to depose Musk starting on Thursday. Representatives for Musk and Twitter did not immediately respond to a request for comment.
(Excerpt) Read more at cnn.com ...
I like the theory that says Musk is currently making some news (peace deal in Ukraine, buying Twitter again, etc.) just as a way to measure bot activity on Twitter. Do a lot of fake accounts on Twitter have as their mission the manipulation of public opinion against Musk? He may be trying to find out.
I found the numbers opposed to his peace deal on Twitter poll somewhat dubious. I would have expected a more near 50/50 split...
Yes, on again and since the Board has already agreed to the offer, the sale should go quickly.
“I like the theory that says Musk is currently making some news just as a way to measure bot activity on Twitter. Do a lot of fake accounts on Twitter.”
Dumb theory. It doesn’t matter how many bots there are, rather how many of them Twitter classifies as monetizable users.
If Musk wants out of the deal, he just needs to publicly state that if he purchases the company, 100% of existing staff will be replaced within months....then see how hard they push him to buy it.
Many twitter employees tweeted they would quit their jobs if Elon took over the company. I hope Elon holds them to that...
Since Elon owns like 172 million TSLA shares (Before stock split), he could have leveraged those shares in various ways this past year to get the money he needed.
I don’t know how much he could have raised, but assuming even with whatever he has in TSLA stock it would be possible to raise that money for himself.
Maybe he just decided to go after twitter after all.
Elon Musk is not too bright.
The Twitsters will all have to work in the office, ha ha ha.
“Elon Musk is not too bright.”
I wish I were as stupid.
“Elon Musk is not too bright.”
You’re nuts.
Or maybe he saw the courts weren’t going to let him out of his deal.
$44 billion for a bot hate filled chat room. Not too bright.
“Elon Musk is not too bright.”
I know , right? $264 billion. What an idiot.
He will lose $44 billion of that and for what, a chat room that has not made money. I assume the NSA will pay him.
How did you make your 220 billion and become the richest man in the world?
We’ll its an unlikely scenario where maybe he could drag out to process or renegotiate the deal.
I don’t know the legal court options Elon has.
“$44 billion for a bot hate filled chat room. Not too bright.”
Musk is going to fix those problems, or at least greatly reduce them.
Twitter makes more than a billion dollars in revenue per quarter, i.e. multi-billion per year. It has a reasonable growth rate and a lot of untapped potential. Plus, there will likely be a synergy between this and his other companies that specialize in things like AI and Internet access, It also gives him a platform to promote the Musk brand.
A multiple of ten times revenue for a purchase price is slightly on the high side, but this is not a fire sale. Musk wanted to force it through by making an offer directly to shareholders. He originally offered 43 billion dollars and then sweetened it with another billion. More than reasonable for a company with a market cap of 37 billion dollars.
Buying an existing social media site allows Musk to save years over building a new one. President Trump has tens of millions of supporters and followers, and yet he’s struggled to do so. Truth Social has less than a million users. Twitter already has a US subscriber base about the size of Trump 2020 voter numbers (around 75 million), but it has 217 million active users worldwide. Musk has many big ambitions, and this helps him with those. Ultimately, he’s buying time. How much is years of your life when you are a billionaire?
There are many ways Musk can further monetize Twitter. He can expand chat capabilities to forums and groups. He can add a marketplace. He can add communication tools like Facebook’s phone and messaging app/service.
Twitter is straight up honest on followers and number of accounts.... Elon Musk buying Twitter is stupid.
Joe hasn’t lost one follower yet and we all know 99% of his followers are BOTs! Still holding at 26 milion
https://twitter.com/Samanth48487861/status/1577455191720345603
Catturd ™
@catturd2
Twitter purge is happening - just lost 7,000 … the children are throwing a fit again.
https://twitter.com/catturd2/status/1577424093829160961
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