Elon Musk on Tuesday disclosed in six filings that he sold $6.85 billion worth of Tesla, Inc. shares on Aug. 5. He later took to Twitter to clarify that the disposals were a preemptive move to mobilize funds to finance a “hopefully unlikely” Twitter, Inc. deal, if it is enforced and some equity partners don’t come through.
“It is important to avoid an emergency sale of the Tesla stock,” he added.
Analysts, however, had a different take on it.
Elon Wants It: Black
At this point it is clear that Musk wants to buy Twitter and that both parties are willing to settle for a lower price, rather than going through the tedium of a trial, Future Fund founder Gary Black said on Twitter.
Black is in the camp of those who are opposed to Musk taking Twitter private.
A poll Black ran on Tuesday ahead of the disclosure of Musk’s stock sale overwhelmingly returned the response that renegotiating a lower price is the most likely outcome of the deal. He suggested a likely cut back to $50–$51 per share
Black is a Tesla bull and his firm’s flagship fund The Future Fund Active ETF has Tesla as its top holding.
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