It's all about that number again. If Tesla stock falls below $420 a share, Musk may not have enough collateral for his Twitter deal.
about how Twitter, with its meager record of profitability, would be able to pay off such pricey debt.
The market is betting that the deal will fail, or at least get repriced much lower. On Friday, Twitter shares closed at $40.72. That's a 25% discount toOn Friday morning, Musk tweeted that the deal was"temporarily on hold" to check if spam and fake Twitter accounts make up less than 5% of the company's total users. A little over two hours later he
that he was"still committed to acquisition." However, this smacked of buyer's remorse, or some sort of effort to renegotiate the purchase price, and triggered a sudden 25% slump in Twitter's stock.
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Elon Musk says Twitter deal on hold pending details on fake accounts; shares plunge 19%Elon Musk announced Friday that the Twitter deal is on hold until he receives more information about how many fake accounts there are on the platform.
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Why Elon Musk Might Not Actually Be Able to Buy TwitterWith Tesla and Twitter share prices plunging, even the world’s wealthiest man may have trouble pulling off his $44 billion deal. As one economist tells Vanity Fair, “It’s a bit of a perfect storm, what he’s getting hit with right now.”
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Elon Musk Says Twitter Deal ‘On Hold’I am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
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Elon Musk says Twitter deal 'temporarily on hold'LONDON (AP) — Elon Musk said Friday that his planned $44 billion purchase of Twitter is “temporarily on hold” pending details on spam and fake accounts on the social media platform. The announcement that the Tesla billionaire tweeted is another twist amid signs of internal turmoil over his planned buyout of Twitter, including that the social media company fired two of its top managers Thursday.
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Elon Musk says Twitter deal 'temporarily on hold'BREAKING: Elon Musk said that his planned $44 billion purchase of Twitter is “temporarily on hold” pending details on spam and fake accounts on the social media platform.
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