The implied probability of the trade closing at that price dropped below 50% when Twitter’s stock hit $ 46.75, based on the trade price of $ 54.20 and Twitter’s stock hit $ 46.75. closed at $ 39.31 on April 1, the last day of trading before Musk revealed he had amassed a stake in the social media company.
Shares of Twitter fell as much as 3% hitting a low of $ 46.50 in afternoon trading.
Moss, the the richest person in the world and also the CEO of electric car maker Tesla Inc, on April 25, signed an agreement to purchase the social media platform. Twitter claimed at the time that Musk had secured $ 25.5 billion in debt and margin loan financing and was providing a $ 21 billion equity commitment.
Musk, who according to Forbes is worth $ 268 billion, said he was not primarily interested in the Twitter economy.
“Having a public platform that is maximally reliable and broadly inclusive is hugely important to the future of civilization. I don’t care about economics at all,” he said in a recent public speech.
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