Drudge Retort: The Other Side of the News
Friday, May 13, 2022

Elon Musk said he is putting his bid to acquire Twitter (TWTR) on hold, weeks after agreeing to take the company private in a $44 billion deal. "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted on Friday. The news initially sent Twitter shares down more than 20% in premarket trading before the stock rebounded somewhat. Two hours after his first tweet, Musk posted that he is "still committed to acquisition." In his tweet about putting the deal on hold, Musk linked to a May 2 Reuters report about Twitter's most recent disclosure about its spam and fake account problem.


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Isn't this crap illegal?


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"Musk turned "this Twitter circus show into a Friday the 13th horror show," wrote tech analyst Dan Ives of Wedbush Securities in a note to clients early Friday.
Musk would owe Twitter a $1 billion breakup fee if he were to cancel the deal.
"The Street will view this deal as 1) likely falling apart, 2) Musk negotiating for a lower deal price, or 3) Musk simply walking away from the deal with a $1 billion breakup fee," Ives wrote. "Many will view this as Musk using this Twitter filing/spam accounts as a way to get out of this deal in a vastly changing market."
Stocks " tech in particular " have been sharply lower since Musk and Twitter reached a deal on a purchase of the the company nearly three weeks ago."

#1 | Posted by LegallyYourDead at 2022-05-13 10:00 AM | Reply

Talking heads on BloombergTV have been saying most of this week that it has been looking like Wall Street is saying that Mr Musk's Twitter deal is having a decreasing likelihood of going through. The main evidence of that is the spread in current stock price of Twitter vs what Mr Musk is bidding.

All this raises an interesting question --- at what point do Mr Musk's actions vs Twitter become stock price manipulation?

Is he just playing these games with Twitter because hie thinks his initial bid was too high, and he now wants a lower price?

#2 | Posted by LampLighter at 2022-05-13 10:19 AM | Reply | Newsworthy 1

Anyone surprised the biggest narcissist on the planet did this?

#3 | Posted by Nixon at 2022-05-13 11:49 AM | Reply

Another view..

Elon Musk's Twitter clown car

#4 | Posted by LampLighter at 2022-05-13 02:11 PM | Reply | Newsworthy 1

One aspect of this whole Musk/Twitter thing that I find most interesting is...

Fmr Pres Trump campaigned, among other things, upon being against Wall Street. (yet, his White House seemed to become "Wall Street South"... but I digress...)

OK, that's understandable, he wanted to be seen as very favorable towards the mom&pop investor, and against the mega-wealth of Wall Street.

And his supporters bought that. Big time.

Fast forward to the present...

Trump supporters seem to be supporting one Elon Musk in his weird dance (I'm being kind) to acquire Twitter.

Yet those very same Trump supporters seem to be ignoring that Mr Musk may have violated securities laws that were put into place to protect mom&pop investors from the evils of the wealthy corporate world.

So... how is that apparent contraction explained?

Why are the Trump supporters apparently so willing now to be in favor of the abuses of Wall Street that they were so opposed to during the election cycle that put fmr Pres Trump into power?

Is it fealty to a person over and above the rule of law?


#5 | Posted by LampLighter at 2022-05-13 09:50 PM | Reply

Musk wanted to buy Twitter on impulse. He's a loud mouth who talks a big game, but is short on results. All of his successes are based on government subsidies and agency support.

I'm not surprised Trump fans embrace Musk. The two have a lot on common.

#6 | Posted by horstngraben at 2022-05-13 10:02 PM | Reply

@#6 ... I'm not surprised Trump fans embrace Musk. The two have a lot on common. ...

Yes and no.

Yes there is a lot in common in an apparent lawlessness.

But no, there is little in common regarding what fmr Pres Trump campaigned upon regarding the evils of Wall Street.

The latter is what is most curious for me.

Why do Trump supporters seems to be so in favor of the machinations of Wall Street nowadays regarding Mr Musk, when they were recruited for the Trump campaign on the platform of being against Wall Street?

What in the world is going on here?

#7 | Posted by LampLighter at 2022-05-13 11:03 PM | Reply

not against the street, against the USA.

#8 | Posted by ichiro at 2022-05-13 11:23 PM | Reply

... it's complicated. and absurd.

#9 | Posted by ichiro at 2022-05-13 11:25 PM | Reply

@#9 ... it's complicated. and absurd ...

Campaign lies are usually complicated, that makes it easier to deny them.

But absurd?

I disagree.

I think that the campaign lies were not absurd, but quite calculated.

Why else would the Trump 2016 campaign rail against Wall Street, yet subsequently support Wall Street most enthusiastically? Of course, that begs the question, was there some manner of agreement beforehand of what was going to be said?

Why else would Trump supporters be most enthusiastic in their apparent support of Mr Musk in all he does?

#10 | Posted by LampLighter at 2022-05-13 11:57 PM | Reply

Billionaires trolling the hoi polloi are the worst.

How noble of him to manipulate the masses for profit.

It's all fun and games until someone gets hurt.

#11 | Posted by donnerboy at 2022-05-14 12:36 PM | Reply

What in the world is going on here?

#7 | POSTED BY LAMPLIGHTER AT 2022-05-13 11:03 PM | REPLY

Musk thumbs his nose at the establishment.
Trump was the anti-establishment candidate.

This isn't unique to the right wing. People posting in this thread insulted me personally whenever I dared question the outlandish claims Saint Musk made. It was because they fervently believed his mission was to save the planet from the evil establishment: the dinosaur corporations and their crony establishment.

#12 | Posted by sitzkrieg at 2022-05-14 06:52 PM | Reply

^^ neither complicated, nor absurd. Look to your own friends that believe his mission. Dude turned into the JK Rowling of technology. The grammar is even the same. "What he says is problematic, but xyz". Xyz is always an aspirational belief in saving the planet or ------- off this planet to Mars.

#13 | Posted by sitzkrieg at 2022-05-14 06:54 PM | Reply

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