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Tuesday, May 17, 2022

Tesla stock pops as Elon Musk hints he could scrap Twitter deal

 There is no Elon Musk Twitter (TWTR) deal that could say more love and attention to his valuable asset Tesla (TSLA) - at least the way investors read it on Tuesday.



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How dependent on Elon Musk’s comments is the crypto industry?

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Elon Musk is the second richest man in the world, with an estimated net worth of $ 155bn. He has founded some of the world’s most successful tech companies from PayPal to Tesla, and his voice weighs heavily on technology circles, but his influence on the crypto market is astoundi...

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Tesla shares have risen 4% in pre-market trading as Musk's Twitter deal was put into new skies after suggesting that the social media platform has more fraudulent accounts than the less than 5% it has disclosed in fulfilling securities.

Early in the morning Tweet, Musk said "Yesterday, the CEO of Twitter  Parag Agarwal publicly refused to show <5% proof," adding that "this agreement cannot go any further until he does."


Tesla's stock has dropped 34% since Musk revealed 9.2% of Twitter in early April, which may indicate investors' concern that the buying saga is diverting Musk's attention to the EV maker's performance and future.

Since unveiling the pole, Musk has behaved in an unusual way. He first revealed himself as an inactive investor before working hard; he initially agreed to be on the board but changed his mind about it. And since he reached an agreement to buy Twitter for $ 44 billion on April 25, the chief executive has repeatedly shown signs of heresy.

A new tweet from Musk comes after a heated exchange on social media on Monday.

Twitter official Parag Agrawal wrote a lengthy tweet in an attempt to refute Musk's claims that the forum was full of fake accounts.

"We set up more than half a million spam accounts every day, usually before any of you can see them on Twitter," Agrawal said in a 13-tweet. "We also lock millions of accounts each week which we suspect are spam - if they can bypass personal verification challenges (captcha, phone verification, etc.)."

Musk responded with a poop emoji.

Musk, the world's richest man in the paper, then followed 14 minutes later by saying: "So how do advertisers know what they are getting for their money? This is the foundation of Twitter's financial life."

Despite the uncertainty, Twitter shares have now returned all their gains since Musk unveiled his stake. Twitter shares currently traded at $ 36.30 based on pre-market levels on Tuesday, below the closing price of $ 39.31 before his stake was unveiled.

A Wall Street analyst believes the proverb puts a lot of pressure on employees' behavior on Twitter, as well as its foundations.
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