twitter stock price today

Investors selling Twitter stock are missing the fact Musk deal will close, says Jim Crameryeah I mea

CNBC Television

Updated on Jan 19,2023

Investors selling Twitter stock are missing the fact Musk deal will close, says Jim Cramer

yeah I mean that's really you know a,sideshow in terms of what's going to,happen because uh next Friday uh musk is,buying it for 54.20 now this National,Security review which by the way the,White House has since said uh that it is,unaware of it we do not know of any such,discussions and that helped a bit in,terms of the decline in the stock but,you're still seeing it there that is,more or less solely because of this,story from Bloomberg uh well-regarded,reporters behind it and so the question,becomes well who told them this and why,did they think it was worth writing,um we don't know we don't know I will,tell you at least in speaking to people,close to Twitter they are unaware of any,inquiry so far from the U.S government,at all about National Security concerns,here,um that said where would or how would,they take place well perhaps cepheus,remember the committee for foreign,investment in the U.S which reviews,deals for their National Security,profile if they feel like there's,something that is concerning to them if,you were to see a formal letter from,cepheus to musk and Twitter they would,hold up the deal until that inquiry took,place that has not happened but that is,the concern right now uh that in fact,the next week given what we saw in this,Bloomberg story that somehow they would,decide that that is something they,wanted to take a look at,his his tweets about Putin or the fact,that he's providing starlink for free to,the Ukrainian uh to to Ukraine and has,said hey I'm providing it for free,and I'll get to you know it's very much,unclear exactly what uh has risen to a,level that would really concern the,government in a at least a real way,um section four of the equity commitment,letter by the way states that musk,cannot bring in investors that would,result in consent or additional uh,additional approval under any Anti-Trust,or foreign investment laws so if they,were to say hey we have some issues with,your investors you just have to get rid,of them under the merger agreement and,replace them either with Zone Equity or,somebody else talked yesterday about a,lot of the equity that at least is being,attempted to be raised even more on that,this guy Gavin Baker the hedge fund up,in Boston had a big presentation,yesterday,pointing out by the way that about seven,percent of the users are responsible for,eighty percent of the cash flow that may,go to why some of these uh stories about,significant layoffs may be true in some,in some fashion although I have not,heard that 75 number but I mean you guys,know this anything at this point will,scare people off because it's Twitter,it's musk uh this would be Jim,outside the realm of what we would deem,many would deem acceptable almost has,rings of what we would have seen under,the previous administration doing,something that would be uh to the,benefit of the president perhaps,um by taking advantage of uh and and and,and and trying to penalize their,political opponents,geez I've got to I have the exact same,story in my report and I know we speak,to different people,but that's exactly the story I got and,people were selling stock,it's motivated by other people and,they're going to miss the fact that the,deal will close,and uh I mean I don't know about the,layoffs because the layoffs haven't been,targeted but I have exactly the same,story you did which is that this is,while it certainly I'm not going to see,a story as a mistake I am saying that,that this is not going to help it seems,unlikely but it doesn't take much to,concern people who are betting on a,close next Friday of course as we,discussed yesterday and as these I you,know quoted some of these emails that,have gone out in terms of looking for,further Equity uh checks this deal is,expected everything I've heard indicates,that it is expected to close next Friday,but this was unexpected that you would,even see a story like this how to,actually gauge its impact Carl is very,much unclear right now and musk himself,is responding to tweets about the report,the notion that somehow he wants the,government to save him from a deal that,some argue he doesn't really want is not,lost on him at least that thesis no he,loves irony but the idea that he,actually is such a playing chess at such,a high level that he actually did this,purposefully to try to bring about a,National Security review that could,result in the deal not happening live,DHS that's hard to imagine uh and again,people close to Twitter indicate to me,there is nothing they've seen from the,government in terms of any inquiry thus,far but,um,listen uh you know it's Twitter it's,just like it's Chinatown Jake I mean I,don't know meanwhile uh Webb Bush today,says he's probably got to sell another,five to ten of Tesla uh in order to pay,for this deal which they think fair,value on Twitter is more like 30. that,yeah 30 or below given the snap numbers,today you could imagine if Twitter was,not in possession of a 5420 deal that,it's going to close next Friday it would,be

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Twitter DELISTED Friday | Important Message to Investors.

Twitter DELISTED Friday | Important Message to Investors.

Twitter is being de-listed from the New,York Stock Exchange effective October,28th Friday that's likely because Elon,Musk wants everyone to let his new,ownership sink in well he's expected to,take ownership of Twitter at 5 pm and,says the rumors of him dismissing 75,percent of the staff are false well even,though he is expected to cut a lot of,expenses at Twitter he's got an uphill,battle to work in the valuation for,Twitter and in this video I'd like to,talk about what you're buckling up for,if you're deciding to ride or die with,Elon Musk when this company goes private,and the shares are delisted Friday I'm,not entirely sure if that's Friday,morning or Friday at the closing bell,either way before or after Friday,Twitter will be delisted and it will be,a private company so we know that Elon,Musk is paying about 44 billion dollars,for this company the largest idea that,he has is growing the user base of,Twitter from it's current about 200,million users let's not even get into,the discussion of how many of those are,actually bought two one billion users,that's about a 5x growth in users and,then hopefully 10xing the monetize I,monetizability of Twitter in order to,essentially produce real cash flows and,uh the idea of Elon Musk purchasing,Twitter for 5420 has been the reason,that Twitter has actually traded,relatively close to 5420 because quite,frankly Twitter would probably be,selling for close to 15 to 20 dollars,today since advertising companies are,absolutely getting reamed uh during this,uh this recession and it's really what's,a beginning of recession which stocks,tend to price in the worst of of course,now we're getting actual EPS misses from,companies like Google Microsoft and,Facebook and so what do we get big,downshifts all at all companies except,for Twitter of course because elon's,paid 54-20 for it now look it's all new,he knows he's overpaying he was paying,at the time like 70 times 2022 earnings,that should have compressed by at least,half it's old news to say he's paying,double what it's worth we got that,what's he going to do with the company,well again double well 5x Revenue sorry,5x the user base and 10x the revenue and,how does he plan to do that well,according to sort of internal rumors,that we're hearing Elon Musk is also,hinting about this on Twitter that we,might see Twitter turn into a Twitter,space that can also include monetizable,videos including subscription based live,streams where you could essentially sign,up for a one-time paid live stream or a,paid Style live stream think about,Twitter spaces but either for exclusive,members or through some sort of paid,subscription model kind of like maybe,when I used to do Market open and close,live streams publicly a paid version of,that and then hosted on Twitter and one,of the things that I'd like to add in,terms of commentary is in order for this,to be successful we should potentially,look at the number one competitor in the,space of a long form video and now we're,not talking about short form video which,would be Facebook reels YouTube shorts,or tick tocks we're talking about long,form generally deemed to be eight,minutes plus but really anything over,about three minutes and that is a,horizontal video video would be a,competitor like twitch Vimeo Facebook,video or YouTube and clearly the,elephant of the room is YouTube YouTube,has the number one Nielsen rating for,most watched streaming service as of,September of 2020 which is actually an,impressive feat but when we look at the,numbers of the earnings provided by,YouTube for Google we can see that,YouTube advertising is down about 1.85,percent uh year over year and if we look,at the percentage of Revenue that comes,from YouTube compared to the total,revenue for Google we can see that,YouTube makes up less,then the Google network of income it,does make up nearly twice as much as,Google Cloud but makes up a fraction of,the ads that are spent on search in,total YouTube ads make up only about,10.2 percent of of Google's entire,revenue and that's actually declined as,a share of Revenue YouTube used to,represent 11 in income this was back in,uh 2021 and now represents just 10.2,percent so not only is it experiencing a,downshift in sort of the trend of growth,but it's also becoming a less important,part of Google's revenue which one of,the reasons people have been very,enthusiastic about Google over the last,few years has been because of YouTube,but that is actually becoming less,notable at Google and so for Elon Musk,to suggest hey let's just turn Twitter,into a potentially to suggest let's turn,Twitter into a platform for long form,monetizability I have a few suggestions,for Elon Musk and a warning so the first,in terms of suggestions,monetization is everything YouTube and,Google have announced that they're,planning to incorporate product,placement buttons that pop up within,videos while the videos are playing so,maybe kind of like the little cards that,pop up for another video you could,

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Digging in on the impact of the Twitter whistleblower

Digging in on the impact of the Twitter whistleblower

the allegations from the Twitter,whistleblower could ultimately help Elon,Musk that's according to axios business,editor Dan primac who is here on CNBC uh,at least hey Dan,um yeah I immediately thought it has to,be good probably for Elon but,the discussion we had this morning was,there's this notion that that Elon said,I'm buying it the way it is and it'd,have to be pretty uh unbelievably,different than what he was aware of at,the time is it rise to that level yet do,you think on the bot as you know and,that's what's most interesting about,this whistleblower complaint to me at,least vis-a-vis Elon is that when it,comes the bot issue which is what elon's,been arguing for the last several months,I don't think this particularly helps,them and in fact there's even a line,apparently in there which suggests that,Twitter is disincentivized to lie about,the MDA use because it doesn't help them,from a revenue standpoint at least to,lie to advertisers about it the,different thing though is that there's,an argument in here that Twitter has,violated the consent decree with the doj,and the FTC from 2011. if that were true,in theory again it would have to be,verified and then something would have,to happen there could be a huge fine,coming to Twitter here from the,government that could be material in,other words Elon might have a new new,front in his argument based on this,whistleblower complaint that has nothing,to do with boxes,so he's just got a horseshoe up his um,nose or and so that could work for him,you say he's a terrible m a guy great,technology guy yeah but I mean is he,really gonna that could happen and that,would be amazing it could happen as a,colleague of mine said something along,lines of today you know if you gamble,enough sometimes you just get really,really lucky that might be where he's at,I mean that would be uh yeah it's that,go ahead guys done,no I'm sorry Joe I apologize I was gonna,say Dan I know your father's,extraordinarily closely there obviously,Tess was up today I mean how bullish on,the margins is all this news for Tesla,in your opinion I'm going to ask you to,play stock market but that's clearly,what's going on,I mean it's very much on the margins,right the reason it matters for Tesla is,is Elon wouldn't necessarily have to,sell even more stock I will say there,was another development today that has,nothing to do with the Whistleblower is,that Twitter's been asking for,information on elon's Equity backers,that that group of firms and individuals,that are contributing in theory to his,Twitter deal because all Twitter and any,of us have seen so far is name amount we,don't know how solid those commitments,are so in other words we're musk forced,to do this deal could Larry Ellison and,recent Horwitz Etc do they have to,participate at that point or could they,bail and that information hopefully from,Tesla's shareholder point of view would,come out because they don't really know,how much Elon would personally be on the,hook for this deal possibly were he,forced to do it,so the prospect for an on-time trial and,everything else is that different now I,I how long I would think it could be I,would think it could be remember elon's,team originally wanted this in February,Twitter wanted in September the judge in,Delaware gave them October it's possible,this whistleblower complaint could push,things back although again there hasn't,to my knowledge been a motion requesting,that yet,okay Dan thank you thank you for coming,on to you know the world leader in,business news seems like an obvious,place to come to discuss this but uh,appreciate that BK can I talk to you,about this if,what would it be worth if Elon got out I,did was able to get out of this where's,Twitter what do you think or maybe you,got other comments go wherever you want,I know you have a comment well you know,listen I,I think it would be pretty bullish for,Twitter if Elon got out of it in the,sense that it just clears up the,uncertainty you know every day you've,got this sort of Damocles hanging over,is he gonna back out is he not going to,be able to support the bid who are these,other bidders are they actually going to,be able to come up with the cash so I,think if you could clear that out then,Twitter can kind of stand on its own on,its own merits now this entire,whistleblower thing is a very different,story because if those merits that we,all think they are real aren't as real,as we thought then Twitter's got a,problem but for Elon I think he I think,getting him out of the picture is better,not worse huh that's interesting Karen,it's down you know seven percent is it,is that enough for you would you put in,a buy order on Twitter at 39 like an,Arbitrage bio though,well it's interesting I I I don't have a,position I was short uh straddle which,expired on Friday so actually it would,have been good for me if that happened,uh Friday but that's okay I think that,this certainly introduces uncertainty,which is great for Elon which is why,they wa

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Rosenblatt upgrades Twitter stock to buy

Rosenblatt upgrades Twitter stock to buy

welcome back to power lunch how will,twitter's courtroom drama play out a new,call from rosenblatt says twitter could,win the fight it's a change from their,previous stance and it results in a,ratings upgrade to buy and a new target,of 52 a share twitter is currently,around 37. barton crockett joins us he's,senior analyst and managing director at,rosenblatt barton you have to put your,legal hat on for this one,correct um you know but it's interesting,i mean i think in a market like this,you'd rather be wearing a legal hat,sometimes in the fundamental hat,fair enough what leads you to think they,could prevail and what does prevailing,look like,well i think that um what we saw in,twitter's lawsuit against musk was a,detailed elaboration of everything,they've tried to provide him in terms of,explaining the issue that he's objected,to most which is uh spambot calculations,and what we see is that they've done a,lot to show him what they do how they,calculate it have invited him to take a,look at what they do um he hasn't,necessarily fully participated,um but what i see there is,a an effort at openness at transparency,uh that seems to be lie the one hope,that musk would have to get out of this,deal which is that twitter was being uh,you know not really um,disclosing fairly that they essentially,had to be fraudulent um and i think that,the level of disclosure around spam bot,which is where his you know biggest,objections are,you know kills that argument i had many,concerns about twitter's uh disclosures,you know based on what musk had been,saying and after reading what twitter,says in reply you know those concerns,have really evaporated,and i think in this case the judge is,likely to,push musk to complete the deal as agreed,um and i think that's a great near-term,setup in a market where you know there's,a lot of things that aren't going,against you but,here we have a judge going for you,and barton if you do believe then that,twitter will prevail over musk and,you're upgrading shares from hold to buy,and the price target to 52 it sounds,like you believe that not only will they,prevail but at the price at which at,least close to where elon musk could,offer to purchase in the first place,correct i mean twitter's asking for,everything and,i believe that the judge will you know,stand with them that they deserve,everything i think a modest kind of,haircut of three percent or so would be,consistent with some other uh contested,kind of deals that we've seen settle out,you know i think about tiffany um and,what happened in that situation it's a,comparable discount to that uh a recent,you know situation that um,um you know i think you can look at here,the uh you know i think that that the,only reason twitter would even,compromise a little bit is just the time,value of money um if this gets must to,kind of um you know face the inevitable,a little bit quicker,what would be the downside risk then of,course i know you all sort of model this,out as well if we're sitting right now,at about 36 a share we're not really far,from where twitter had been trading on,the trend line before elon musk had made,this offer so let's say you don't own,twitter now and you follow your advice,you invest in these shares here what,would be the downside if this doesn't go,through will the price fall much further,from where we sit,well look if there's no deal i do think,there's a ton of risk in in twitter's,equity i think their damages their,business is being damaged as we go,through this they're not able to to give,people retention bonuses so they have,attrition um the ad market if we're,going into recession is weakening um and,you know so i think that there's,downside if there's no deal i do think,though that um you know we're highly,likely to see a deal another thing that,could happen though to you know,submarine a deal as if you know the,unknowable what happens if,musk completely decides to ignore what a,court orders him to do here um and that,i think is probably the most unknowable,thing here um but you know one thing we,do know is that all of corporate america,acts as if this delaware court has power,um and so the question is can you know,can trump buck that um i think they have,the ability you know for fines and for,um you know orders um you know perhaps,even you know some,some other kind of penalties that,certainly um you know we'll see them,tested i think in this situation

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Sources: Musk proposes to close Twitter deal at $54.20 per share

Sources: Musk proposes to close Twitter deal at $54.20 per share

Julia just give us a sense of what this,means for Twitter for Elon Musk to,actually acquire this company at the,originally offered price of 54.20.,well look this is a huge Vindication for,Twitter that it had an airtight,agreement I just want to point out the,timing here we are getting this news,today ahead of when musk was set to do,his deposition that was set for the end,of this week so what this indicates to,me is that musk really didn't think he,had a chance in court the other thing I,would point out is that this comes on,the heels of The Whistleblower coming,out with plenty of criticisms of Twitter,but not criticisms that actually,supported musk in his attempt to get out,of this deal so the whistleblowers,criticisms the fact that they did not,support musk's issues around Twitter's,Bots were problematic also just want to,go back to some of those redacted those,text messages that we read that were,part of the discovery process and all of,those text messages so revealing but,also indicated that musk really had had,a sense of the fact that there were bots,on the pro on the platform that he knew,he was going to have to clean them up,which to me indicated that the the entry,of that as evidence into this trial,could hurt musk in his attempt to get,out of this deal so all of these things,come right before this announcement,today and the fact that he probably had,a good sense that he wasn't going to win,and that's why we're getting this news,now in terms of what this means for,Twitter this whole situation with musk,has been a massive destruction for,Twitter at a time when they face many,challenges this has been challenging for,Twitter in terms of employee morale in,terms of retention keeping employees,focused when we're dealing with hybrid,work environments and all of these,different issues so challenges at a time,when when Twitter is already dealing,with tough say macro environment macro,environment around advertising so to,resolve this would be a huge weight off,of Twitter's back and really enable,Twitter to focus on growing ad Revenue,delivering new ad formats and then of,course the big question is once musk,takes over what kind of changes is he,going to make to make Twitter more,appealing to a broader range of array of,people and that is the big Unknown about,what he actually has in plan has planned,for the company all right Joy and we,have to let you go I know you have calls,to make and other threads on this to,follow the question when Elon Musk takes,over what kind of Workforce is he taking,over,um I know originally when this happened,and there was a you know a town hall,meeting and a lot of employees had,questions and even concerns about being,uh and part of a company that Elon Musk,controlled privately,well yes and there are also questions,about whether Elon Musk was going to be,shifting Focus away from Twitter being,an ad supported service and whether that,can be problematic I think from what I,understand from sources is musk,definitely understands that Twitter,needs to maintain the ad business but as,it tries to diversify its revenue,streams and grow out other parts of the,business he does need to maintain that,poor business I mean Twitter is among,one of many companies in Silicon Valley,that has halted its its employee growth,during these macroeconomic pressures but,I think it's it's an employee base it,has a lot of questions and I would,expect musk to want to talk to those,employees sooner rather than later to,make sure more of them don't head for,the door all right our Julia borson and,we know you're on top of the story,Twitter shares up almost 13 percent,Tesla shares interesting up a percent,and a half just a short time ago they,were up two and a half percent

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recently there has been news going,around that the tech billionaire,investor and chief executive officer of,tesla elon musk has bought twitter the,social media giant but this is not all,that's happening with the stock as the,twitter stock is positioned to hit 500,in the near future according to several,professionals but before we continue,kindly do us a favor by clicking on the,subscribe and like button whenever you,feel like it while watching the video,you can also click on the bell icon to,get notified of upcoming videos this is,actually the best way possible to,support the channel thanks a lot my,friend twitter offers one of the easiest,ways for its users to create discover,and even distribute content very easily,without stress then there are the,twitter advertising opportunities you,can use to reach over 200 million,monthly active users on twitter of,course twitter is a social network that,has plans of leaving no time soon with,more users joining twitter and more,businesses understanding the power of,twitter advertising opportunities,twitter's revenue is bound to grow and,with this an increase in the share price,users on twitter range from influential,politicians and celebrities to your,everyday average youth just looking for,ways to keep up with their trends of,interest let's go back to elon musk,buying twitter while filing with,regulators the tech billionaire and,investor mentioned that he had secured,enough commitment around 46.5 billion,dollars which was enough to buy the,outstanding shares of twitter although,his offer was 54.2 billion dollars,however twitter did not respond to this,offer initially but from the previous,week leading to the week of making this,video it came to public knowledge that,twitter was cooking up a defensive plan,more like a rights plan which can be,considered a poison pill the plan is,such that twitter's board members can,buy lots of shares at a discounted rate,of course with the sole purpose of,deluding musk's holdings this is,expected to make it very hard for him to,get support from stockholders however,the plan will only kick in if musk,stakes ever rises to 15,at the time of making this video musk,was among the company's largest,shareholders holding a 9.2 stake in,twitter which he got as a result of,investing the sum of 2.89 billion,dollars on the 4th of april 2022.,somehow this investment was quite,significant in the twitter share price,play because it sparked a 40 increase in,the stock price you will agree that,among the top 10 most popular users on,twitter elon musk is one of them he's,also quite influential and has raised a,lot of controversies with his over 80,million followers on the twitter,platform let's start from the beginning,to see the play between musk's,investment and twitter's stock price,increase on the first of april twitter,stock prices in the stock market closed,at 39.31,for a share after falling from the 4266,value it attained the beginning of the,year things took a different turn for,the stock on the 4th of april after the,stock increased up to,49.97 and closed the market session the,following day at 50.98 all this was in,response to musk's involvement and,investment in twitter with the increase,in twitter share prices pushing musk,73.5 million shares to worth of 3.75,billion dollars this was almost 1,billion dollars more than musk's initial,investment following an agreement,between the united states securities and,exchange commission and twitter on the,5th of april elon musk would have been,appointed by twitter to twitter's board,of directors musk wouldn't have served,as any other kind of director but as a,class 2 director with his term ending in,2024 during twitter's annual meeting of,stockholders but it turns out that he,won't just be joining the board of,directors he instead bought the entire,company that is twitter musk managed to,secure more than 46 billion dollars in,cash and equity to pay for the deal even,more interesting is that as he raised,the funds elon said he has a new ceo,lined up for the social network but he,didn't report who it would be but how,would elon musk even pay that enormous,amount of money well in an sec filing on,april 20 musk said he had secured about,25.5 billion in debt financing through,morgan stanley and other financial,institutions elon said he had personally,committed about 21 billion dollars in,equity financing twitter says the,transaction which was unanimously,approved by the board will likely close,this year following shareholder and,regulatory approval elon musk will have,to pay twitter a one billion dollar,termination fee if he doesn't go through,with his acquisition of the social,network the filing which details the,terms of the agreement indicates twitter,would have to pay the same fee under,specific circumstances no one knows what,musk's endgame is but the most common,reason we would make of musk's,investment would be his desire to in a,way or more affect and influence the,moderation policy of twitter it wo

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The share price was the downfall of Tesla stock, not Twitter, says Gilman Hill's Jenny Harrington

The share price was the downfall of Tesla stock, not Twitter, says Gilman Hill's Jenny Harrington

but we're doing it now uh because I,think it's the most interesting story in,the market it's Tesla uh right now it,hits another new low the market cap has,fallen now below Walmart and JP Morgan,That's stunning in and of itself if you,consider where it started this year Joe,it was north of 1.2,trillion,dollars okay now it is as I look at it,now,it is like,355 billion dollars,that to me is emblematic of the story of,the year in the stock market itself for,stocks like that without question the,beginning of the downfall for Tesla was,in early April when Elon Musk announced,the stake in Twitter at that point the,stock was 10 percent higher on the year,not 10 higher than where it is now 10 10,higher in the green here in the Girl of,the Year subsequent to that in four,separate stock sales Elon Musk has sold,23 billion dollars worth of stock now,he's tried to defend the stock he has,split the stock he has dangled a stock,buyback he has said he will no longer be,the CEO of Twitter he's attempted,everything he possibly can what he,cannot do,is he cannot defend against the massive,ownership that existed in this company,and unfortunately for those that do own,it the cost of capital has changed so,dynamically,that that ownership is being liquidated,in what I think is one of the most,dramatic Equity liquidations I've,witnessed since 2000 so momentum is a,powerful thing powerful up and down now,you own the stock we do through the Joe,T ETF correct now if I'm a betting man,and sometimes I am a betting man I'm,thinking that when you rebalance which,is coming at the end of the year and,we're going to find out shortly after,that,right current Holdings are that Tesla,may not be in the Joe T can you give us,an idea if you're able to uh on how,you're thinking about this right now,I'm going to give you my best Bill,Belichick I'm on overtime the last day,of January you're on to Cincinnati in,other words,correct you're not you're not talking,about it now and it's I'm sure because,uh just from a regulatory standpoint I,would imagine that you're not able to,get into any sort of you know key,details about that however Jenny,how are we supposed to think about,what's happening here as it sort of,relates to the overall narrative in the,stock market because I think they're,tied together I think so,into the radio and you said something,that was so smart that I texted it to,myself so I'd requote it you said we are,re-rading everything because of what,lies ahead and that to me that sentence,encapsulates everything that's going on,that's Tesla that's Peloton which is,what I think you were talking about it's,the reason energy up it is up it's the,reason utilities up everything's being,rereaded it's not all in one direction,it's not all negative some of it's quite,positive but when we look at at Twitter,where sorry when we look at Tesla where,I disagree with Joe a little bit is it,wasn't it wasn't Twitter that created,the downfall it was that the share price,never should have been what it was and,that brings me back to that Charlie,Munger quote which I'm going to,completely botch which is something like,any wonderful company can be turned into,a terrible investment simply by driving,up the share price too much and that's,what happened that's what happened over,the past several years these share,prices just got I think Twitter had,nothing to do Twitter was a catalyst,that accelerated something that had to,happen Okay so if the stock was standing,at the edge of the cliff something else,it was Twitter no it was Twitter that,pushed it over uh no because I think you,guys are I think you guys can both be,right I think you're right I think you,guys can both do right I think Twitter,was the most recent uh episode to,puncture one of the tires but the car,was already in trouble because of where,we are what the FED is doing and as I,said this morning what lies ahead still,I sorry I disagree with both of you the,stock was 10 higher at the beginning of,April the market was already down there,was a degree of resiliency built into,the stock there was but only into the,stock stock price the thing is it was,trading back then at what like,10 times the collective value of every,single automotive company in the world,some people think it's a tech company,you know okay but it just didn't make,sense at some point the future cash,flows need to justify the current,valuation and there was no version of,Tesla at its peak that was ever,justifiable not for like 30 years of,growth and so that's what's happening,and that's what happened it came down,it's just it's just reconciling the,whole year is about reconciliation yeah,I think that's I think that's a fine way,to put it there's one more than that go,ahead Michael because if I'd have told,you at the beginning of the year when,Tesla was in the trillion dollar club,with the microsofts and the apples uh,and I said that at the end of the year,it was going to be in the Walmart club,uh with the market cap that obviously is,res

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Twitter trouble: Elon Musk's Tesla's shares go down by 35% | Latest News | WION

Twitter trouble: Elon Musk's Tesla's shares go down by 35% | Latest News | WION

this of course has got to do with Elon,Musk who's now taken charge of Twitter,after having purchased the company for a,jaw-dropping 44 billion dollars is the,company actually even worth that much,this of course is something that will be,debated in the days to come but what,Elon Musk has now done is that he has,started off by cost cutting and the way,he's got about cost cutting is by,sucking employees of Twitter,the microblogging site has started,sending out emails to its employees,about whether they have been laid out or,not the process that Twitter has now,resorted to is fairly simple believe it,or not this is how Twitter has gone,about it it's almost like a game that,you'd witnessed at a party,so if there is an email on an employee's,work account this means that the,employees still with with Twitter and,still has a job but if there is a,notification that an employee sees on,his private email ID and is not able to,log on to his official email ID then,that means that employee has lost his or,her job,and according to reports Twitter has,laid off nearly about 50 percent of the,workforce which is roughly his money as,about 3 700 employees,the taking to Twitter Elon Musk wrote,the company has no choice when it is,losing four million dollars per day he,also further said that those who've been,sacked have been offered three months of,severance which is about 50 more than,what is legally required,moreover is the news about the layoffs,came to the surface the American,president Joe Bon has in fact come,forward and said that Twitter spews out,lies across the world the statement made,by the U.S president comes the country,is heading to its midterm elections on,the 8th of November,while layoffs sweep through the company,many major advertisers of Twitter have,also distanced themselves from the,platform the companies include the likes,of General Mills and Volkswagen,the move taken by these companies of,course comes amidst growing fears that,misinformation and hate speech will not,be allowed to proliferate on the,platform under Elon musk's leadership,meanwhile musk is directly challenged,the activist investors during a,conference in New York listening to what,he had to say,activist groups have been successful in,causing a massive prop in quarter,advertising revenue and we've done our,absolute best to appease them and,nothing is working so this is a major,concern and I think this is frankly an,attack on the First Amendment,I think if if activist groups the,pressure of advertisers upon which,Twitter is fundamentally dependent,um to you know suppress Free Speech then,that doesn't seem right,the problems for the world's the richest,man don't just end there there are,bigger problems that Elon Musk is now,staring at remember ever since Elon Musk,announced his bid to purchase Twitter,the shares of Tesla Motors are drowned,are down by almost about 35 percent if,you recall musket announced that he,would be buying Twitter on the 25th of,April and on the 25th of April earlier,this year the Tesla shares it closed at,about 333 dollars per share but on,Friday the shares have closed at a price,of,207 dollars per share that stuff badly,the share price has been dipped,for Tesla,all right now to give us more insights,in terms of how all of this of course is,likely to play out and can Elon Musk,actually turn Twitter profitable that of,course is something that Elon Musk could,be scratching his head on we're being,joined by Adrian Mars who's a tech,journalist is joining us live from,London Adrian Mass thank you very much,indeed for speaking to us here on Beyond,now this this of course is a huge,problem that Elon Musk is of course,staring at you know tell us a bit about,the economics of what Elon Musk has got,into how much money is he saving by,sacking these employees and but the,controversy that he's generated he's,also has driven away it appears a lot of,the advertisers so is Twitter and is,Elon Musk in deep Financial soup,well we don't know exactly how much he's,saving because we don't know the,distribution of employees that he sacked,whether it's the the ones uh that cost,him more or it's roughly across the,board,um his rage bill is roughly one,Twitter's wage bill is roughly 1.6,billion a year so given these fire he's,got rid of half of them um he should in,theory be saving around 800 million a,year,um that's not enough to stem the losses,and a lot of those people will have been,employed in uh there'll be programmers,who are dealing with moderation and,algorithms that spot uh the things that,stop Twitter becoming too toxic a place,to exist so that actually in the long,run May well make things a lot lot worse,um,certainly advertisers are temporarily,not advertising whether that pans out in,the long term we don't know there has,been a massive increase in sort of toxic,language right as soon as the Takeover,was announced we saw,um uh data Miner said that they saw a 1,300 increase in a particular racial slur,that begins with n uh used to have

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