He purchased a huge amount of twitter stock, and simultaneously made the public offer at like 4x twitters current stock value. Twitter pumped on the news, which was exactly Musks plan.
The stock market crash did not all of a sudden make twitter worth next to nothing on the offer. Musk was attempting to pump and dump the stock, and it backfired on him.
Even at the “rainbows and unicorns” drug induced tech stock valuations we’ve been seeing lately, twitter wasn’t worth 1/3 what musk offered to buy it at.
The stock market tanking has literally nothing to do with why this was a bad deal.
When you’re a public company and some coked off his ass idiot billionaire offers you 3x your companies current already highly inflated value, you are essentially forced by the shareholders to sell.
He purchased a huge amount of twitter stock, and simultaneously made the public offer at like 4x twitters current stock value. Twitter pumped on the news, which was exactly Musks plan.
The stock market crash did not all of a sudden make twitter worth next to nothing on the offer. Musk was attempting to pump and dump the stock, and it backfired on him.
Even at the “rainbows and unicorns” drug induced tech stock valuations we’ve been seeing lately, twitter wasn’t worth 1/3 what musk offered to buy it at.
The stock market tanking has literally nothing to do with why this was a bad deal.
When you’re a public company and some coked off his ass idiot billionaire offers you 3x your companies current already highly inflated value, you are essentially forced by the shareholders to sell.