Right. Too many people are reading the offer literally.
Musk wants to exit his Twitter position, and is using this offer to pump the price before he dumps stock, under the justification of "they rejected my painfully, obviously low offer so now I need to exit".
TWTR closed at 45 today because the market called bullshit on Elon’s offer. If the market was convinced by his offer, it’d be within a few percent of $54/share.
There will be no exit liquidity, it’ll go sub-30 if anyone catches a whiff of Elon dumping his shares.
My general thought is that pump and dump schemes are small change to the richest person in the world. Making an extra few hundred million is appealing to anyone, but he'll make 100x that from TLSA by doing nothing at all.
I do see this as a way for him to save face. kind of "I bought $4B of stock on a whim and that was a bad idea, but if I pump it and come out ahead I'll feel better"
My thoughts exactly. If the board accepted, minutes before twittering "having perused the contract, Twitter violated one of the clauses and there I am ethically unable to buy the company", he'd dump and make himself another few gazillion dollars richer.
Musk wants to exit his Twitter position, and is using this offer to pump the price before he dumps stock, under the justification of "they rejected my painfully, obviously low offer so now I need to exit".
Except the market has already jumped back down.