American journalist and anchor of “Squawk on the Street”, Carl Quintanilla, tweeted out investment firm Wedbush Securities’ take on Elon Musk’s Twitter (TWTR) deal.
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According to them, Musk has got ‘cold feet’ after undergoing the cumbersome task of financing the deal amid the changing risk environment.
The firm goes on to state that the whole bot issue is just a lazy excuse to walk away from the deal, and they see a less than 50% chance of the deal going through as of today.
The who’s who of Wall Street, media houses, and the masses alike are hinting that all of Musk’s shenanigans around Twitter’s bot issues are a way of lowering Twitter’s agreed-upon deal price.
Worse still, a few even believe these are just excuses to completely abandon the deal, and that Musk never had the intention to buy Twitter since the beginning!
Amid all the drama, Twitter shares have crashed more than 25% since the initial announcement of Musk’s stake, and the Tesla (TSLA) stock has lost nearly 37%. These simply imply that Musk has an upper hand in re-evaluating the terms of the deal to his advantage, should the spam issue not end well.
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