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Twitter Stock Dives 11.4%
Twitter Stock Dives 11.4%
MARKETS
Jul 11, 2022 3:47 PM CDT

Twitter Stock Dives 11.4%

Tech stocks were among the weakest on a bad day for Wall St.

(Newser) - Wall Street indexes resumed falling on Monday, ahead of a busy week with updates scheduled for how bad inflation is and how corporate profits are being affected. The S&P 500 fell 44.95 points, or 1.2%, to 3,854.43. The Dow Jones Industrial Average fell 164.31...

One Clause in Contract May Be Bad News for Musk

'Specific performance' term could be used to force him into buyout deal

(Newser) - As Elon Musk and Twitter head toward a high-stakes court battle over his decision to bail on the buyout deal, stories have begun assessing the odds of which side might prevail. Generally, most see Twitter with the stronger hand, and a big reason is because the deal includes a "...

Twitter Lawyers Up, and Musk Issues a Taunt

Company hires heavyweight firm as Tesla CEO tweets a laughing meme

(Newser) - The Twitter/Elon Musk soap opera appears to be headed toward a heavyweight battle in a Delaware court. Some new developments:
  • Lawyering up: Bloomberg reports that Twitter hired "merger law heavyweight" Wachtell, Lipton, Rosen & Katz and is expected to file suit this week. Twitter will try to force Musk
...

For Twitter, Musk's Move Is 'Worst Case'

Company might win a legal fight to save deal, but analysts say there would be drawbacks

(Newser) - Twitter's stock price has dropped, its public image is damaged, and employee morale is tanking. And that was all before Elon Musk told Twitter and the SEC on Friday that he wants out of the $44 billion deal to buy the company. Twitter said it will fight Musk on...

&#39;Twitter Willing to Go to War&#39; With Musk Over Deal
Elon Musk to Twitter:
I'm Walking Away
update
Jul 8, 2022 5:56 PM CDT

Elon Musk to Twitter: I'm Walking Away

But Twitter says it intends to make him honor his deal to buy the company

(Newser) - Update: The drama intensifies. Elon Musk notified Twitter and the SEC late Friday afternoon that he wants out of his deal to buy the company, reports the Wall Street Journal . He accused Twitter of failing to provide all the information he has requested on fake accounts. Twitter, though, won't...

Musk Vanished From Twitter, Met the Pope, Came Back

After 9-day online hiatus, his 'longest stretch' offline yet, the Tesla CEO is once more tweeting

(Newser) - If you've been wondering why Elon Musk has vanished on Twitter as of late, don't fret: He's back. In what the Wall Street Journal calls Musk's "longest stretch without posting on Twitter in nearly five years," the Tesla and SpaceX CEO last posted on...

Twitter's Board Unanimously Recommends Deal With Musk

But his purchase of the platform still has a long way to go

(Newser) - The pendulum on the Elon Musk-Twitter courtship has swung from no way to it's happening to it's off to maybe it's on again . A development Tuesday keeps it squarely in the "maybe" camp. Twitter's board recommended unanimously that shareholders approve the proposed $44 billion sale...

Mark Cuban Just Did What Elon Musk Could Not

Billionaire gets teen tracking private jets to stop tracking his, promising future business advice

(Newser) - Elon Musk tried to get a Florida teen to stop tracking his private jet , to no avail. Mark Cuban, on the other hand, appears to have been successful. Insider reports that 19-year-old Jack Sweeney has stopped sharing data on his Cuban-dedicated Twitter account after the Dallas Mavericks owner reached out...

New Elon Musk Threat Has Twitter Stock Falling
Twitter
Reverses
Course on
Musk Demand
UPDATED
Jun 8, 2022 11:47 AM CDT

Twitter Reverses Course on Musk Demand

Company will provide more information to help evaluate 'bot' accounts

(Newser) - Updated: Twitter will relent and give Elon Musk all the information he wants to help him evaluate how many bogus accounts—or bots—are on the platform, reports the Washington Post . The company will give him access to what the Post describes as the full "firehose" of its daily...

During MLB Matchup, a Most Unusual Twitter Stream

During Thursday's game between Yankees, Rays, teams live-tweeted stats on gun violence

(Newser) - MLB fans looking to keep up with the game Thursday night between the New York Yankees and Tampa Bay Rays got quite the surprise when they logged on to Twitter. Instead of stats and play-by-plays, the two teams instead used their accounts to tweet out facts on gun violence. In...

Shareholders Sue Musk Over Twitter's Falling Stock Price

Shares are running 27% below Tesla CEO's offer price

(Newser) - Twitter shareholders have filed a lawsuit accusing Elon Musk of engaged in "unlawful conduct" aimed at sowing doubt about his bid to buy the social media company. The lawsuit filed late Wednesday in the US District Court for the Northern District of California claims the billionaire Tesla CEO has...

Elon Musk Gives Twitter Investors Hope

As Jack Dorsey leaves the company's board of directors

(Newser) - Jack Dorsey left Twitter's board of directors Wednesday, in a move that had been planned and announced when Dorsey resigned as CEO in November. Dorsey is the last of the social network's founders to cut formal ties with the company, NBC News reports. His term on the board...

Elon Musk: I Can't Close the Twitter Deal Like This

Acquisition is stalled, he says, until there's more information on spam and fake accounts

(Newser) - Elon Musk shook things up Tuesday, beginning the day with a tweeted warning that his acquisition of Twitter is in doubt. "This deal cannot move forward," Musk wrote, until he receives more data about the amount of spam and the number of fake accounts on the platform, the...

Now in Elon Musk's Twitter Drama: Poop Emoji

So this is where we're at now

(Newser) - Monday's discourse in the ongoing Elon Musk vs. Twitter saga was not exactly, shall we say, refined. In a tweet reply to the social media company's CEO, Musk simply posted a poop emoji. The thread Musk was responding to involved Parag Agrawal talking about spam accounts, and insisting...

2 Tweets From Bezos on Biden, With One Theme: 'Misdirection'

Amazon founder goes after president on Twitter about inflation

(Newser) - President Biden is well aware of the nation's current woes around inflation , and he recently pledged to make it his top domestic priority. But his thoughts on how to do so have rankled one of the world's richest men, and that man took to Twitter to tell the...

Now What, Elon?
Musk Might Have Ulterior
Motives in Surprise Move
the rundown
May 13, 2022 2:26 PM CDT

Musk Might Have Ulterior Motives in Surprise Move

It could be a bargaining ploy, or he could be trying to avoid a big penalty for ditching the deal

(Newser) - Elon Musk surprised the tech world Friday morning by putting his deal to buy Twitter on hold. His stated reason is that he needs to investigate just how many spam accounts are on the platform, but one theme in coverage is that industry analysts sound pretty skeptical about that:
  • Not
...

Elon Musk Says Twitter Deal Is 'Temporarily on Hold'

He wants to know more about estimate of number of fake or spam accounts

(Newser) - Twitter's share price sank as much as 25% in pre-market trading Friday after Elon Musk declared in an early morning tweet that his bid to buy the company was "temporarily on hold." He included a link to a May 2 Reuters report on a Twitter filing estimating...

Elon Musk Answers the Big Trump Question

He says he would lift ban on former president if he ends up owning Twitter

(Newser) - Elon Musk has answered one of the biggest questions raised in the wake of his bid to buy Twitter : The entrepreneur said Tuesday he would lift the ban on Donald Trump, reports CNBC . “Permanent bans should be extremely rare and really reserved for accounts that are bots, or scam,...

Musk Pulls In $7B for Twitter From Silicon Valley Bigwigs

$1B of investor backing is coming from Oracle co-founder Larry Ellison, per SEC filing

(Newser) - Billionaire Elon Musk has strengthened the equity stake of his offer to buy Twitter, with commitments of more than $7 billion from a range of investors, including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison. Other investors include Sequoia Capital Fund, which pledged $800 million, and Vy Capital, which...

Mike Lindell's Return to Twitter Lasted 4 Hours

Platform rejects his attempt to rejoin after previous ban

(Newser) - MyPillow founder and "Big Lie" proponent Mike Lindell attempted to rejoin Twitter on Sunday, but his new account survived less than four hours. Twitter tells Fox Business it took down the account over its rules on "ban evasion." As in, Lindell was permanently banned in 2021 , and...

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