Twitter stock continued to tank further today after our earlier report showing that it was down bad last week.
This happened on the heels of the news that Tesla CEO Elon Musk terminated his Twitter takeover bid. This news has brought a litany of various different reactions, depending on who you talk to.
Some think he may try to buy Twitter for less money. Others think Musk simply changed his mind since almost all stocks have been falling recently under Joe Biden’s watch.
Others still think Musk may be trying to hurt Twitter in some nefarious plot, since this news is indeed costing shareholders money and giving Twitter executives major headaches.
Folks are indeed free to speculate as much as they want, but most of us are not corporate lawyers, and these things can be tricky and extremely complex.
As CNBC’s David Faber ranted to Mad Money’s Jim Cramer about Musk’s recent ”pullout” allegedly over too many Twitter bots and a potential misrepresentation of the amount by Twitter, he went off script.
Even Cramer, known himself for saying wildly crazy statements at times, even suggested to Faber he rescind a statement, lest it become a headline, that a judge may jail Elon Musk if he does not buy Twitter. Faber:
”They are going to have a Delaware judge enforce that contract and say ”these are the reasons why”… …”then we have a situation where maybe he doesn’t comply with that… …they could put him in jail…”
We are not legal experts, but in our amateur opinion, these things generally are sorted out in court rulings that don’t usually end up with someone going to jail.
Time will tell if Faber eats his words and what ultimately happens with Twitter. It’s sure to be a very long saga indeed.
We are not financial advisors, seek a professional for any advice.
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