Elon Musk and Tesla stock trading
Elon Musk back in the eye of the storm: Tesla’s boss sold company stock for seven billion dollars in recent days, a few months after declaring that it does not want to sell further shares of the electric car manufacturer. This was reported by the “Wall Street Journal”, taking up the communication sent to the regulatory authorities. According to the documents, Musk sold a total of 7.9 million shares between Friday 5 and Tuesday 9 August.
On his Twitter account, Elon Musk he explained that he wanted to “avoid an emergency sale of Tesla securities“if he were forced to buy Twitter and some of the financial partners didn’t follow him. By April Musk had already sold about $ 8.5 billion worth of shares of its automotive group to prepare for the acquisition of the social network.
Elon Musk and the uncertainty of the takeover bid on Twitter
The whole thing happens while the operation on Twitter he is experiencing a period of “uncertainty”. The social media has in fact filed a lawsuit against Elon Musk to force the billionaire to deliver on his promise to buy the company, the first legal step in what should be one of the most high-profile business processes in recent history.
For me yes Musk publicly threatened to abandon the sale of the influential social network. About a month ago he announced that he was “settling” the deal because Twitter hadn’t given him enough information about spam and bots.
Now the judge of a Delaware business court has to determine if the richest man in the world can get out of the $ 44 billion dealdespite a contract binds him to complete the acquisition.
Twitter, revenues down by 1%: uncertainty weighs on the acquisition of Musk
Also on the accounts front they fell to 1.18 billion i Twitter revenues in the second quarter of 2022, down 1% from the same period last year and below analysts’ estimates. For the management of the social network, the revenues reflect the trend of the advertising sector but also “uncertainty surrounding the pending acquisition of Twitter“by Elon Musk, who launched a 44 billion takeover bid in April, which was then stopped at the end of June.
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