Musk needs to settle and winds up paying "significant" damages to Twitter (TWTR) ranging between $5B and $10B, based on the court's ruling. Twitter’s shares have revalued 36% higher since Elon Musk announced in July that he didn’t want to buy Twitter anymore. Revaluation gains are entirely unjustified and indicate misplaced optimism regarding a potential closure of the merger deal.Īfter Elon Musk announced that he was backing out of the proposed $44B deal to acquire social media company Twitter, Inc. (TWTR), the stock initially dropped heavily. Twitter's share price recovery fundamentally unjustified Since Twitter in the meantime also submitted its Q2'22 earnings card, which continued to show weakening fundamentals, the recovery may be an opportunity to sell Twitter stock into the strength! However, in recent weeks, Twitter stock has developed some new momentum which has driven the share price back to where it was in May. I was previously bullish on Twitter, in large part because the company was growing its number of users consistently.
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Moderate average daily user growth and a strong rebound in advertising revenues in FY 2021 indicated to me that Twitter faced improving prospects for free cash flow growth as well. The billionaire's acquisition offer valued Twitter at $44B. The ensuing debate over Twitter's bot accounts, however, changed the risk analysis for me profoundly.
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