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Right. Too many people are reading the offer literally. Musk wants to exit his Twitter position, and is using this offer to pump the price before he dumps sto
by bduerst 4y ago
Right. Too many people are reading the offer literally.
Musk wants to exit his Twitter position, and is using this offer to pump the price before he dumps stock, under the justification of "they rejected my painfully, obviously low offer so now I need to exit".
Except the market has already jumped back down.
- xarope 4y agoMy thoughts exactly. If the board accepted, minutes before twittering "having perused the contract, Twitter violated one of the clauses and there I am ethically unable to buy the company", he'd dump and make himself another few gazillion dollars richer.
- chrisstanchak 4y agoHear that wooshing noise?
- quickthrowman 4y agoTWTR closed at 45 today because the market called bullshit on Elon’s offer. If the market was convinced by his offer, it’d be within a few percent of $54/share. There will be no exit liquidity, it’ll go sub-30 if anyone catches a whiff of Elon dumping his shares.
- wwweston 4y agoAfter watching him do the same thing with crypto, it's astonishing to me people aren't taking this explanation for his behavior more seriously.
- hooande 4y agoMy general thought is that pump and dump schemes are small change to the richest person in the world. Making an extra few hundred million is appealing to anyone, but he'll make 100x that from TLSA by doing nothing at all. I do see this as a way for him to save face. kind of "I bought $4B of stock on a whim and that was a bad idea, but if I pump it and come out ahead I'll feel better"