Twitter stock falls after report
Musk disclosed a 9% stake in Twitter in April and the company accepted his unsolicited takeover bid later that month, but the partnership quickly soured, with Musk officially filing to back away from the deal in July. Twitter sued Musk to force through the deal, but Musk told the company October 3 he’d move ahead with the original terms, two weeks before the trial between Musk and Twitter was slated to begin. Citing anonymous sources, Bloomberg reported late Thursday the Biden Administration is mulling placing Musk’s business dealings twitter stock news under a national security review due to Musk apparently cozying up to the Kremlin and securing financing for the Twitter deal from Saudi Arabia and Qatar. Neither Twitter nor representatives for Musk responded to requests for comment regarding layoff plans. The stock reaction, which rebounded somewhat later in the morning, followed a Bloomberg report that Biden administration officials are in early discussions about possibly subjecting some of Musk’s ventures to national security reviews, including the planned Twitter takeover.
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Sep 3, 2022 Twitter leaves some key questions unanswered.
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On the previous occasion when it looked like the deal was off, Twitter settled around $40. These levels can perhaps be looked at as support zones, but this is a deal play, plain and simple.
When the deal was first announced, I wrote about how the risk-reward seemed skewed lower when Twitter had spiked to north of $52. There was a potential gain of $2.20 (the deal price is $54.20) versus a larger downside if the deal did not push through. In https://dotbig.com/ recent weeks Twitter stock has pushed back above $50 as it seemed the parties were set to finally see the deal through. News this morning sees TWTR once again sell off sharply, and at the time of writing it is trading at $48.25 in Friday’s premarket.
"A number in the 75% range would be way too aggressive in our opinion out of the gates and potentially set back this core platform for years before the X App strategy takes hold." Also, a report by the Washington Post on Friday said Musk told prospective investors that he planned to get rid of nearly 75% of Twitter’s 7,500 workers, whittling the company down to a skeleton staff of just over 2,000. A concern among investors is what will a Twitter deal mean for Tesla stock. It’s down 44% since Musk, the chief executive of Tesla , revealed a 9% stake in Twitter in early April.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Dino is an investor and technology enthusiast with years of experience in managing complex projects. At Finbold he covers stories on stocks, investing, micro and macroeconomic trends. Also, he’s also building DotBig a micro solar power plants in his hometown. Ives described the situation as "brutal" for Tesla investors, as they will ultimately have to "bear the burden" of Musk’s potential stock sales. Elon Musk could have to sell up to $10 billion in Tesla stock next week to complete his Twitter buyout, according to Dav Ives of Wedbush.
- The largest positive contribution comes from its "Relationships" impact, which is mostly driven by its "Microblogging platforms", "Social media telecommunications advertisements", and "Social media pharmaceutical advertisements" products.
- Analysts rate the stock a ‘hold,’ with the average price in the next 12 months for Twitter expected to reach $47.60, -9.23% lower than the current trading price of $52.44.
- Shares of Twitter dropped as much as 8% in pre-market trading Friday as investors braced for some last-minute uncertainty around Elon Musk’s $44 billion deal to buy the company.
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Musk has previously said he thinks that he and his fellow investors are overpaying for Twitter. "Although obviously myself and the other investors are obviously overpaying for Twitter, the long term potential for Twitter in my view is in an order of magnitude greater than its current value", Musk said during the latest Tesla earnings call. Overpaying in the short term to get long-term potential seems to be the theory. https://dotbig.com/ The Washington Post reports that Musk is planning to take tough action. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers.
Shares Sold ShortThe total number of shares of a security that have been sold short and not yet repurchased.Change from LastPercentage change in short interest from the previous report to the most recent report. Exchanges report short interest twice a month.Percent of FloatTotal short positions relative to the number of shares available to trade. Page this week to alert staff they won’t be able to access or trade shares from the Equity Award Center, according to the report. View our full suite of financial calendars and market data tables, all for free. Real-time analyst ratings, insider transactions, earnings data, and more. The company’s average rating score is 2.06, and is based on 4 buy ratings, 27 hold ratings, and 2 sell ratings.
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Twitter shares fell Friday after Bloomberg reported about increased scrutiny from the federal government into its pending sale to Elon Musk, dropping to nearly their lowest level since Musk said earlier this month he’d move ahead with his $44 billion acquisition. After months of haggling, Elon Musk and Twitter expect to finalize a buyout agreement next week, news reports say. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Zuckerberg and Meta Suffer Huge Regulatory BlowBritish authorities have dealt the social media giant a sharp defeat over a recent acquisition.
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Its products and services include Promoted Tweets, Promoted Accounts and Promoted Trends. Twitter was founded by Jack Dorsey, Christopher Isaac Stone, Noah E. Glass, Jeremy LaTrasse and Evan Williams on March 21, 2006, and is headquartered in San Francisco, CA. Twitter, Inc. operates as a platform for public self-expression and conversation https://dotbig.com/markets/stocks/TWTR/ in real-time. The company’s primary product is Twitter, a platform that allows users to consume, create, distribute, and discover content. Its promoted products consist of promoted ads and Twitter Amplify, Follower Ads, and Twitter takeover. Twitter, Inc. was founded in 2006 and is based in San Francisco, California.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Recent reports suggest Musk could be quick to reduce Twitter’s headcount by as much as 75% when he takes over the company, but Ives is skeptical that such deep cuts would make the deal any better. The stock sales by Musk would come at a time when the electric vehicle company is considering its first ever stock buyback of between $5 billion and $10 billion, as mentioned on Wednesday’s third-quarter earnings call. Elon Musk could be forced to sell $5 billion to $10 billion in Tesla stock next week as he prepares to complete a $44 billion buyout of Twitter, Wedbush analyst Dan Ives said in a Friday note. "The more investors that bail on this deal is the more money that Musk needs to contribute and therefore sell more Tesla stock," Ives said. Robinhood gives you the tools you need to put your money in motion. You can buy or sell Twitter and other ETFs, options, and stocks.
Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides a network that connects users to people, information, ideas, opinions and news. The company’s services include live commentary, twitter stock price live connections and live conversations. Its application provides social networking services and micro-blogging services through mobile devices and the Internet. The company can also be used as a marketing tool for businesses.