Elon Musk takes over Twitter

This one, I am not sure I get.

There is no paperwork to file. He can't put the deal on hold, he already agreed to it. It's binding. If he tries to back out, his ass is getting sued for $X billion. Even the $1 billion breakup fee only applies to a handful of conditions, none of which is him being able to just walk away.

On top of it, all that tweet did was reintroduce uncertainty, which brought Twitter's stock price even farther below his offer price, and he doesn't benefit from that because he already made a binding offer. If anything, he owns 9.2 percent of the company already and that tweet made his stake worth even less for the time being.

The guy is a charlatan and has tweeted or said all kinds of things over the years to try to manipulate Tesla's stock price in ways that gave him short-term benefit. I posted about some of those incidences on here. In this case, I just think he wants to renegotiate a deal he already locked himself into, and because he lacks leverage, he thought doing it publicly he could somehow pressure the Twitter board to consider it with some BS about fake accounts, like it just occurred to him. There is no paperwork for that. There's, "You are going to get sued." I would bet that is why he followed it up with the "Still committed to acquisition," tweet. A team of lawyers from Skadden Arps probably had a collective coronary.

 

Of course not! He decided to buy Twitter because it has too many bots, and now he's not buying Twitter because it has too many bots.

 

Most people trying to manipulate a stock try to pump it, not tank it, especially when they own 9.2 percent of the company.