You still have time to short a few thousand shares since you seem convinced the sale will never be finalized...it's only ~$37 a share right now. And since libs believe nothing Slow Joe has done is screwing up the economy, surely you have an extra $40K laying around...
Elon Musk Stuff
- Thread starter LonghornCatholic
- Start date
OUBubba
5,000+ Posts
He locked in a rate via a purchase offer and a signed contractual agreement. Then the bubble burst to some extent. It's similar to putting in an offer on a house with $2,000 of earnest money. The process goes along and the owner is requested to repair something (french drain, mold damage, etc.) following the inspection. In the mean time the interest rate spikes or the local Wrangler plant closes and the $ offered on the house turns into a poor purchase. There are two options. 1. Continue with the contractually agreed purchase. 2. Opt out and lose your earnest money.
Twitter deal’s off
Reuters: Elon Musk looks to abandon $44 billion Twitter deal
Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter Inc (TWTR.N), saying that the social media company had failed to provide information about fake accounts on the platform.
Shares of Twitter were down 7% in extended trading. Musk had offered $54.20 per share in April.
In a filing, Musk's lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company's business performance.
"Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement," the filing said.
The announcement is another twist in a will-he-won't-he saga after the world's richest person clinched a $44 billion deal for Twitter in April but then put the buyout on hold until the social media company proved that spam bots account for less than 5% of its total users.
The terms of the deal require Musk to pay a $1 billion break-up fee if he does not complete the transaction.
Musk had threatened to halt the deal unless the company showed proof that spam and bot accounts were fewer than 5% of users who see advertising on the social media service.
The decision is likely to result in a long protracted legal tussle between the billionaire and the 16-year-old San Francisco-based company.
Reuters: Elon Musk looks to abandon $44 billion Twitter deal
Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter Inc (TWTR.N), saying that the social media company had failed to provide information about fake accounts on the platform.
Shares of Twitter were down 7% in extended trading. Musk had offered $54.20 per share in April.
In a filing, Musk's lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company's business performance.
"Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement," the filing said.
The announcement is another twist in a will-he-won't-he saga after the world's richest person clinched a $44 billion deal for Twitter in April but then put the buyout on hold until the social media company proved that spam bots account for less than 5% of its total users.
The terms of the deal require Musk to pay a $1 billion break-up fee if he does not complete the transaction.
Musk had threatened to halt the deal unless the company showed proof that spam and bot accounts were fewer than 5% of users who see advertising on the social media service.
The decision is likely to result in a long protracted legal tussle between the billionaire and the 16-year-old San Francisco-based company.
OUBubba
5,000+ Posts
The guy who I listen to who all these people called an idiot said that this deal was dead 2 months ago and they were all pandering to the Delaware judicial system.
Then you should be sitting pretty if you followed the guidance to short the hell out of it...and if you did NOT short the hell out of it while being convinced the deal would fall through, then who is the idiot now?
OUBubba
5,000+ Posts
I’m long on double wides right now. And I’m thinking of taking up a position in Sudafed.
The tiny house craze is booming right now. In OK that means 1/4 wides.
1/4 wide means less land to thieve....
Horn2RunAgain
2,500+ Posts
Wouldn't surprise me if musk is doing this for leveraging a better deal (for him) than the original offer. Twitter has been exposed to a good degree by now.
The concept works until your typical Okie woman tries to walk down the hallway of a quarter wide and gets wedged between the walls...
Elon Musk reportedly living in this Westlake mansion with new twins and their mother
So he's my neighbor?
J/k, I can't afford to live in Westlake.
So he's my neighbor?
J/k, I can't afford to live in Westlake.
4005 Island Knoll...and on a corner at the front of a gated community? Meh...I've seen better out there. FFS, Michael Dell's back entrance to the Toro Canyon complex was just up the road from the place I lived in a little more than 20 years ago.
Had to laugh at the article making a big deal about Musk's plane being in Austin several days a week. Makes me wonder if they forgot about his Tesla complex out BY the airport near 71 and 130...makes sense he would be in the area on a regular basis.
And mine says he is going to end up buying Twitter much cheaper than his original offer.
He better sponsor.
Crap, you just outed me - er, I mean ...
.. spam bot checking in. How many total users are there so we can do the math of 1/x = % to see?
OUBubba
5,000+ Posts
Best case for Elon is they want this to go away and they let him out at $1 billion and he sells off all of his shares. That's my prediction. Otherwise, only the lawyers get rich.
To pretend that you didn't know that Twitter had way too many bots is like an aggy pretending that yell practice and the crap with the overalls and dogs is "normal".
To pretend that you didn't know that Twitter had way too many bots is like an aggy pretending that yell practice and the crap with the overalls and dogs is "normal".
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