If you believe that the hold is temporary, you probably also believe that Elon Musk is Santa Claus. The only person who believes
Twitter is worth what he offered is Musk.
https://www.axios.com/2022/05/13/elon-musk-says-twitter-deal-temporarily-on-hold
"The company's shares plunged more than 17% in pre-market trading in
response to the news. Tesla's shares rose about 5%.
The big picture: Musk's takeover bid has been wrought with so many
twists and turns that Wall Street is beginning to feel skeptical that it
will even happen.
For Musk to liquidate a significant amount of his Tesla stake and to
wrangle bankers into giving him billions of dollars in financing, only
to backtrack due to a single article, shows how manic the entire
takeover process has been.
Most acquirers go through a thorough due diligence process to address
these types of concerns before submitting a formal bid."
"Our thought bubble: There's been speculation for weeks that Musk would
walk away, and he just took a giant first step."
"https://www.cnbc.com/2022/05/12/twitter-market-cap-has-dropped-to-9-billion-below-musk-purchase-price.html"
"Twitter shares have fallen to about $46, well below Elon Musk’s
purchase price of $54.20."
That was yesterday. This morning you can pick up shares for around $45.
TB
On 5/13/2022 6:24 AM, Technobarbarian wrote:
If you believe that the hold is temporary, you probably also
believe that Elon Musk is Santa Claus. The only person who believes Twitter is worth what he offered is Musk.
https://www.axios.com/2022/05/13/elon-musk-says-twitter-deal-temporarily-on-hold
"The company's shares plunged more than 17% in pre-market trading in response to the news. Tesla's shares rose about 5%.
The big picture: Musk's takeover bid has been wrought with so many
twists and turns that Wall Street is beginning to feel skeptical that it will even happen.
For Musk to liquidate a significant amount of his Tesla stake and to wrangle bankers into giving him billions of dollars in financing, only
to backtrack due to a single article, shows how manic the entire
takeover process has been.
Most acquirers go through a thorough due diligence process to address these types of concerns before submitting a formal bid."
"Our thought bubble: There's been speculation for weeks that Musk would walk away, and he just took a giant first step."
"https://www.cnbc.com/2022/05/12/twitter-market-cap-has-dropped-to-9-billion-below-musk-purchase-price.html"
"Twitter shares have fallen to about $46, well below Elon Musk’s purchase price of $54.20."
That was yesterday. This morning you can pick up shares for around $45.
TBI had to laugh at myself. I inadvertently left the Twitter stock
price information on the top of my pile. The stock is now below $41 and
is still dropping like a rock. Oh yeah, this just has "good deal"
written all over it.
TB
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