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Tesla CEO and Dogecoin super fan Elon Musk Pulled out Of his $ 44 billion deal, he deals with Twitter, citing concerns about “false misunderstandings.” One of the key concerns was the lack of data available for masks to analyze the severity of bot problems on the platform.
Musk previously stated that he would not buy Twitter if the number of bots exceeded the reported 5%.The mask also has a number of bots 20-90% Of Twitter users. If a transaction fails, the public may not know the truth unless a Twitter-independent audit is ordered to calm investors’ fears.
Twitter share fell 5% in aftermarket trading hours after the news. The price has dropped to $ 36, a 33% discount on the price Mask offered to the company. As Twitter’s dream of accepting Doge disappeared, Dogecoin moved less than 1% within an hour of the information’s release. At least for now, Dogecoin investors don’t seem to be as worried as Twitter shareholders.
Surprisingly, the mask is eerily quiet on Twitter for this move.His only comment Today we were supposed to discuss the drone and Biden’s prompter. Usually he is very vocal on the platform and uses it to release micropress releases about his commerce and personal opinions. But on the day he chooses not to buy Twitter, he doesn’t say anything about the issue either.
However, the rest of Twitter is full of discussions on this topic. Harvard Law School litigant and shareholder Richard Signorelli said he wanted Musk to receive a “heavy fine.”
As a shareholder, I want it @elonmusk You only pay a large penalty to get out of the transaction.As a person to use @twitterI don’t want him to own the company.
Richard Signorelli (@richsignorelli) July 8, 2022
CNN’s Jim Cramer said he expects Mask to be difficult to get out of the deal.
It’s hard to get out of such a deal with Delaware. They tend to hug you to them.That’s their style, but Elon is more than just a person https://t.co/p7Hp9PysHP
Jim Cramer (@jimcramer) July 8, 2022
Sky news Twitter reports that even if you pay a fine, you’re likely to reject Mask’s $ 1 billion cancellation fee. The website reports that “Twitter’s board of directors has no plans to accept payments and will take legal action instead.”
Twitter Board Chairman publication Twitter’s board promises to complete the transaction. The legal action is definitely on the card, but it focuses on forcing a transaction rather than an additional fine on musk.
Twitter’s board of directors has promised to close the transaction at the price and terms agreed with Mr. Musk and will take legal action to implement the merger agreement. We are confident that we will win the case in the Delaware Equality Court.
Bret Taylor (@btaylor) July 8, 2022
