“The long-term potential for Twitter, in my view, is an order of magnitude greater than its current value,” he said. On a conference call this week to discuss Tesla’s earnings results, Musk said he was “excited” about the Twitter deal, but also admitted that he is “obviously overpaying” for it. Bloomberg also last week reported that the company had frozen employees’ stock accounts in anticipation of the deal’s completion. In a separate report Thursday evening, Bloomberg said that bankers and lawyers for both Twitter and Musk are preparing the paperwork needed to complete the deal. Twitter declined to comment on the report about the possible review representatives for Musk did not immediately respond to a request for comment.īy other accounts, the deal appears to be moving toward completion. Musk has one week remaining to close the deal or face a rescheduled trial in the Delaware Court of Chancery that could result in him being forced to acquire the social media firm. It’s unclear what, if any, impact the reported security review could have on completing a deal that has already been subject to months of uncertainty. In response to a tweet about the Bloomberg report, one user wrote: “It would be hysterical if the government stopped Elon from over paying for Twitter.” Musk responded to that tweet with a “100” emoji, which typically indicates emphatic agreement, and a crying laughing face emoji. Now it shows what he could face if he takes over the platform A Treasury spokesperson said that the Committee on Foreign Investment in the United States “does not publicly comment on transactions that it may or may not be reviewing” by law and practice.Īmong the equity investors who committed to provide financing to help Musk fund the deal are several foreign entities, including the Qatar sovereign wealth fund and Saudi Arabian Prince Alwaleed bin Talal, who was already one of Twitter’s largest investors prior to Musk’s proposed takeover.Įlon Musk commissioned this bot analysis in his fight with Twitter. “We do not know of any such conversations,” National Security Council Spokesperson Adrienne Watson said in a statement. Asked by CNN, the administration pushed back on the report, which cited people familiar with the matter. 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 He said if not for these measures, Twitter would have run into negative cash flow within the next year.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 $44 billion deal to buy the company. In a Twitter Space late Tuesday, Musk defended his drastic cost-cutting antics and revamp of the paid plan at the company. The company also launched the Blue for Business plan that allows organizations to identify their affiliated brands and employees with an extra badge.Įlsewhere, Elon Musk ran a poll asking people if he should step down as CEO - and 57% of users voted “Yes.” A few days later, Musk said in a tweet: “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.” In the past week alone, the company rolled out and quickly rolled back a policy that banned links and handles to other social networks like Facebook, Instagram and Mastadon. It has been a busy couple of months at Twitter since Musk’s arrival on the scene. For example, at the time of writing, stock prices from companies such as Airbnb ($ABNB) and Zoom ($ZM) didn’t show up in the Twitter search. The company added that in the coming weeks it will refine the user experience and add better symbol compatibility. Twitter didn’t specify which symbols are included in the list for direct stock price search results. The social media company has not made it clear if it is forming any kind of commercial partnership with either Robinhood or TradingView. As app researcher Jane Manchun Wong noted, the logo on the image indicates that Twitter is sourcing the data from the TradingView website.
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