• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Top Trading Strategy
No Result
View All Result
Home Breaking News

Twitter shares sink 7% in premarket trading after Elon Musk terminates $44 billion deal

by
July 11, 2022
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

Baidu leaps to 11-month high as it reveals plan to launch ChatGPT-style ‘Ernie Bot’

India will buy oil from ‘wherever we have to’ if terms are beneficial, energy minister says

Tuesday: Trade Deficit, Fed Chair Powell

Dow Jones Drops Ahead Of Key Powell Speech; Pinterest Plunges On Earnings; 4 Other Earnings Reporters

In this article

TWTR

TSLA

In this photo illustration, Twitter account of Elon Musk is seen on a smartphone screen and Twitter logo in the background.
Pavlo Gonchar | Lightrocket | Getty Images

Twitter shares sank sharply in early premarket trade Monday after Elon Musk said he is trying to terminate his $44 billion takeover of the company.

Shares of the company fell nearly 9% in U.S. premarkets before paring some losses to trade around 7% lower. Tesla stock, meanwhile, was up around 1% in premarket trade.

On Friday, Musk’s attorney notified Twitter’s board that he wants to cancel the deal. The billionaire has taken issue with bots and fake accounts on Twitter and says the company isn’t being truthful about how much activity on the service is authentic.

Twitter, on the other hand, says it has given Musk the information he needs to assess its claim that spam accounts make up only 5% of monetizable daily active users, including a so-called “firehose” of daily tweets.

Richard Windsor, founder of research company Radio Free Mobile, said he’s not a Twitter shareholder but if he was, he’d sell now.

“There is still a disconnect between the fundamentals and the share price,” Windsor told CNBC’s “Squawk Box Europe” Monday.

“If you look at some of where the technology sector has gone over the last couple of months, you could put Twitter’s valuation somewhere between $13 [billion] to $15 billion which is around about roughly 50% below even where the share price is today.”

This is a developing story and will be updated shortly.

Next Post

Hong Kong's Hang Seng index falls around 3% as heavyweights Tencent, Alibaba plunge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

Baidu leaps to 11-month high as it reveals plan to launch ChatGPT-style ‘Ernie Bot’

by
February 7, 2023
0

In this article GOOGLMSFT9888-HKBIDU Follow your favorite stocksCREATE FREE ACCOUNT Robin Li (or Li Yanhong in Chinese), founder, chairman and...

Read more

Baidu leaps to 11-month high as it reveals plan to launch ChatGPT-style ‘Ernie Bot’

India will buy oil from ‘wherever we have to’ if terms are beneficial, energy minister says

Tuesday: Trade Deficit, Fed Chair Powell

Dow Jones Drops Ahead Of Key Powell Speech; Pinterest Plunges On Earnings; 4 Other Earnings Reporters

Rescuers scramble in Turkey, Syria after quake kills 4,000

‘Big Short’ hedge funder says he thinks we’re headed for a ‘run-of-the-mill’ recession—but the bigger ‘paradigm shift’ is really on his mind

Load More

All rights reserved by www.toptradingstrategy.net

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.