1. TSLA is trading at $750/share (so if Elon musk was 100% in TSLA, he lost 25% of his wealth).
2. Twitter's comprable, Facebook, fell roughly 33% on revised revenue projections and slowing growth. TWTR roughly tracks Facebook, except for last quarter where the stock hasn't moved due to Musk's offer.
So Musk became poorer, and TWTR, which probably should be trading in the high 20s, has an offer for $54/share; meaning Musk may be paying double what it is currently worth.
I find it pretty amusing Musk has meme'd his way into a disastrous deal.
Of course it's not 100% true, the only thing you should take away is that by TSLA shares crashing, Elon lost a significant amount of wealth that would have been used to purchase Twitter.
It's true enough. He isn't 100% tesla, but the vast majority of his wealth is in tesla and spacex, and only one of those is actually redeemable in the short to medium term.
1. TSLA was trading at ~$1,000 share
2. He offered $54/share
Now?
1. TSLA is trading at $750/share (so if Elon musk was 100% in TSLA, he lost 25% of his wealth).
2. Twitter's comprable, Facebook, fell roughly 33% on revised revenue projections and slowing growth. TWTR roughly tracks Facebook, except for last quarter where the stock hasn't moved due to Musk's offer.
So Musk became poorer, and TWTR, which probably should be trading in the high 20s, has an offer for $54/share; meaning Musk may be paying double what it is currently worth.
I find it pretty amusing Musk has meme'd his way into a disastrous deal.