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A stick that someone paid $100k for is absolutely a stick worth $100k - what people are willing to pay for things is how we assign them value. Twitter's stock

A stick that someone paid $100k for is absolutely a stick worth $100k - what people are willing to pay for things is how we assign them value. Twitter's stock was trading at ~$45/share before any rumors of acquisition - so somewhere around $35B - they'd made roughly $1B in net income in the year prior to the buyout. This meme about them "not making money" is so silly. Aside from a one-time settlement in 2020, Twitter had a very stable and fairly profitable business - hence why Elon had to pay $44 Billion to buy the company from the existing shareholders. https://www.statista.com/statistics/299119/twitter-net-income-quarterly/ https://www.statista.com/statistics/299119/twitter-net-incom...

aranchelk 3y ago
You could make that argument except this is a stick someone said he’d pay $100k for to get attention, then the courts forced him follow through. Slightly different.
- mikeyouse 3y ago
  More like someone wrote a contract to buy a stick for $100k, took multiple steps including hiring bankers to raise financing to buy the stick for $100k, threatened to sue the seller of the stick if they didn't sell it to him for $100k and then eventually tried to back out..
wredue 3y ago
>twitters stock was trading for $45 a charge before any rumor of acquisition What is this, alternate reality land? It was trading for $16 (albeit this was a low point) a share when Musk started his pump and dump scheme, which rocketed the value to 45 a share, which is the point that Musk decided he doesn’t want it and also began proceedings to dump stock. There were ATH in the $45 range, but TWTR was on a clear downward trend.
- mikeyouse 3y ago
  You should maybe look at a stock chart instead of making silly, easily disprovable statements from memory like "ATH in the $45 range"? It nearly reached $80 in 2021... It spent several months above $60/share. https://imgur.com/a/VsoZ7mD https://imgur.com/a/VsoZ7mD I don't have quick access to share prices older than Jan 1st 2019 - but from that date through the date of Elon's first share purchase on Jan 31st, 2022 - Twitter's average price was was $44/share.
  - wredue 3y ago
    I only went back enough to look at the Musk nonsense. So I guess I should have worded “the highs in the several months leading up to twitter were around $45, but twitter tanked and was still trending down at $16 when musk started attempting to manipulate the market”. We aren’t talking about when musk first purchased shares. We’re talking about when twitter was trading at $16 when musk attempted to then manipulate the stock market by stating he’d buy twitter, which shot twitter back up.

aranchelk 3y ago

You could make that argument except this is a stick someone said he’d pay $100k for to get attention, then the courts forced him follow through. Slightly different.

mikeyouse 3y ago
More like someone wrote a contract to buy a stick for $100k, took multiple steps including hiring bankers to raise financing to buy the stick for $100k, threatened to sue the seller of the stick if they didn't sell it to him for $100k and then eventually tried to back out..

wredue 3y ago

>twitters stock was trading for $45 a charge before any rumor of acquisition What is this, alternate reality land? It was trading for $16 (albeit this was a low point) a share when Musk started his pump and dump scheme, which rocketed the value to 45 a share, which is the point that Musk decided he doesn’t want it and also began proceedings to dump stock. There were ATH in the $45 range, but TWTR was on a clear downward trend.

mikeyouse 3y ago
You should maybe look at a stock chart instead of making silly, easily disprovable statements from memory like "ATH in the $45 range"? It nearly reached $80 in 2021... It spent several months above $60/share. https://imgur.com/a/VsoZ7mD https://imgur.com/a/VsoZ7mD I don't have quick access to share prices older than Jan 1st 2019 - but from that date through the date of Elon's first share purchase on Jan 31st, 2022 - Twitter's average price was was $44/share.
- wredue 3y ago
  I only went back enough to look at the Musk nonsense. So I guess I should have worded “the highs in the several months leading up to twitter were around $45, but twitter tanked and was still trending down at $16 when musk started attempting to manipulate the market”. We aren’t talking about when musk first purchased shares. We’re talking about when twitter was trading at $16 when musk attempted to then manipulate the stock market by stating he’d buy twitter, which shot twitter back up.