In Monday’s Blitz Daily with Lance Ippolito, we took a look at communications stock Twitter as its buyout deal takes a turn for the worse.
In case you missed it at the start of April, Twitter CEO Elon Musk turned heads by taking a sizable position in the struggling social media company, sending the stock soaring over 20% overnight...
Since the initial announcement, it's been a will-they or won’t-they relationship between the social media platform and its billionaire superstar attraction.
Musk offered a $44 billion buyout — which the company accepted on April 25 — but has threatened for weeks to cancel the deal before announcing his withdrawal late Friday.
The news helped drop shares more than 9% Monday as the bears lined up to get in on the bloodbath.
Of course, Monday wasn’t all bearish order flow — even with the tech-heavy Nasdaq falling more than 2%. In fact, I had to slam some calls right in the middle of making Monday’s video!
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