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If I didn't know better, I'd be wondering if Musk was shorting Twitter's stock. Has anyone ever managed to do so much damage to a company in such a short amount
by abrookewood 4y ago
If I didn't know better, I'd be wondering if Musk was shorting Twitter's stock. Has anyone ever managed to do so much damage to a company in such a short amount of time?
- EricE 4y agoWhy would he short a stock that he already owns all the shares of? That doesn't make any sense whatsoever.
- matwood 4y agoHe doesn’t own all the shares. There is a slightly credible theory that he’s tanking the value so the debt value will fall and he can potentially buy it up on the cheap. The problem for Elon is that bankers aren’t idiots. If he tries to buy his own debt, they will absolute charge a premium or just push for bankruptcy wiping out the shareholders anyway.
- abrookewood 4y agoHence the "if I didn't know better" ... anyway, as someone else pointed out it's private now. It just has the appearance of self-sabotage.
- ascagnel_ 4y agoTwitter is a private company; it’s basically impossible for him to do so. And if a company officer is shorting the company’s stock, that sounds an awful lot like a breach of fiduciary duty.
- onlyrealcuzzo 4y agoPeople have long speculated that Musk found some way to profit off of running Twitter into the ground, since from day 0, that appeared to be his obvious strategy. No one has yet found a way that he'll profit from Twitter's decline. So he's obviously doing what he thinks is best, it is seemingly going strongly in the opposite direction, but only time will tell how it ends up. One thing's almost certain, he's not going to make money running Twitter into the ground.
- antifa 4y agoI really thought he was going to use Twitter to manipulate stocks or crypto values. Instead he's loudly rearranging furniture and I'm worried there's little more interesting than that going on.