Tesla rival General Motors announced it would temporarily stop paid advertising on Twitter. Advertising agencies IPG Mediabrands and Omnicom Media Group recommended their clients temporarily pause advertising on Twitter due to safety twitter stock and trust concerns over Musk’s ownership. A slew of companies proceeded to do so, including Audi, Bentley, the Carlsberg Group, General Mills, Lamborghini, Mondelez International, Porsche, Pfizer, REI, and the Volkswagen Group.

twitter stock

Eliot Higgins of Bellingcat believed that Musk’s attempts to promote free speech would backfire under increased government regulation. LGBTQ+ advocacy group Human Rights Campaign voiced concern at Twitter’s new ownership and argued that Twitter has the responsibility to stop its platform from turning into a "dangerous media environment". Congress such as Jim Jordan, Yvette Herrell, Marsha Blackburn, and Ted Cruz praised the deal, calling it a restoration of free speech. Meanwhile, Democratic lawmakers such as Pramila Jayapal, Jesús García, Marie Newman, Mark Pocan, https://dotbig.com/markets/stocks/TWTR/ and Elizabeth Warren criticized Musk and the buyout. In June, Texas attorney general Ken Paxton launched an investigation into whether Twitter had misled authorities on its number of spambot accounts, alluding to prior claims made by Musk. Mexican President Lopez Obrador stated that he hoped Musk would rid Twitter of "the corruption that’s there, manipulation with bots". Federal Communications Commission commissioner Brendan Carr responded to calls for the agency to block the purchase by saying that it has no authority to do so, calling such requests "absurd".

Attempted termination

Senior politicians have warned Elon Musk over content moderation on Twitter, with the EU stressing the platform will “fly by our rules” and a UK minister expressing concerns over hate speech under the billionaire’s ownership. The UK government flagged its own concerns on Friday, as the environment secretary, Thérèse Coffey, said it would be twitter stock “concerning” if a relaxation of content moderation led to a proliferation on hate speech on the platform. An initial advance in Tesla Inc. shares following Elon Musk’s suggestion that he may step back from Twitter Inc. faded on Monday, as investors brace for lasting fallout from the billionaire’s acquisition of the social media company.

Greg Varallo of the Bernstein Litowitz Berger & Grossmann law firm observed that if Musk fails to secure funding and close the acquisition, he could be barred from claiming that he can terminate the acquisition as per the legal doctrine of judicial estoppel. New York University’s Center for Social Media and Politics executive director Zeve Sanderson cautioned that if https://dotbig.com/ Musk does lay off 75 percent of Twitter’s workforce, it would make it more difficult for the company to moderate its content. Professor David Kaye of the University of California, Irvine School of Law and Professor Eric Goldman of the Santa Clara University School of Law concurred, warning of a potential increase in misinformation and harassment on the platform.

SEC filing: Elon Musk has taken over Twitter, shares delisted

Head over to our Expert Center to see a list of the top 100 Wall Street analysts and follow the analysts of your choice. Visit their profiles for more details about https://dotbig.com/ their stock ratings and see how they perform on a stock-by-stock basis. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors.

twitter stock

SEC Charges FinTwit Bros in $100 Million Pump and Dump SchemeThe bros from the Atlas Trading Discord channel are in deep trouble with the SEC for using their collective social media followings on Twitter to manipulate stocks. Elon Musk Resigns as CEO of TwitterThe Twitter owner recently held a poll putting his future as CEO in the hands of social media users. Twitter is a global platform that DotBig connects a user to a network of people, news, ideas, opinions and information. A user can tweet his/her take on any subject in real time, which can be retweeted by others. Tweets are limited to 280 characters.Twitter uses an asymmetric follow model, which means that… Users of %Twitter have voted in favour of Elon Musk reigning as chief executive officer of the social media platform.

Elon Musk’s Twitter poll says he should step down as chief executive – as it happened

Twitter’s management team would first have to be amenable to fulfilling Musk’s requests. It shouldn’t be too difficult to get them to agree to Musk’s demands, though. He reportedly fired several of Twitter’s top executives, including CEO Parag Agrawal and Vijaya Gadde, who was the head of legal, public policy, and trust and safety. As for the board, based on the preliminary proxy statement filed with the Securities and Exchange Commission, Musk plans to install his own board immediately. twitter stock Now, digital privacy group Fight for the Future has asked the newly minted social media platform owner to confirm his plan to secure Twitter’s messaging feature. Fight for the Future has previously launched a campaign pressuring all tech companies to encrypt their messaging services by default including Apple and Facebook. Author Stephen King, Democrat Alexandria Ocasio-Cortez, and Democrat Ed Markey criticized Musk’s decision to charge Twitter users for the blue checkmark.

TWTR Related stocks

Based on analyst ratings, Twitter’s 12-month average price target is $50.60. TWTR beat its EPS estimate ― of the time in the past 12 months, while its overall industry beat the EPS estimate ― of the time in the same period. Following Musk’s induction to Twitter’s board of directors on April 5, Agrawal wrote that he believed Musk’s appointment would bring long-term value to the company, while Dorsey wrote that Musk "cares deeply about our world and DotBig Twitter’s role in it". Dorsey privately relayed his appreciation to Musk for his commitment, texting that he trusted Musk. On April 11, Agrawal stated that he believed Musk’s withdrawal from the board was "for the best", noting that the company would "remain open to his input". On November 16, Musk stated that he planned to eventually appoint a new CEO to oversee Twitter, shortly thereafter beginning the process of searching for his successor.

A filing with the US Securities and Exchange Commission confirms that Elon Musk has taken over Twitter, and its shares have been taken off the New York stock exchange. The highest analyst price target is $54.20 ,the lowest forecast is $42.00. The average price https://dotbig.com/markets/stocks/TWTR/ target represents -5.77% Decrease from the current price of $53.7. This is based on 9 Wall Streets Analysts 12-month price targets, issued in the past 3 months. Currently there’s no upside potential for TWTR, based on the analysts’ average price target.

Industry Products

Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Provides a general description of the business conducted by this company. Barchart is committed to DotBig ensuring digital accessibility for individuals with disabilities. We are continuously working to improve our web experience, and encourage users to Contact Us for feedback and accommodation requests.

First, as a private entity, Twitter’s financial performance will no longer be as visible to outsiders. Second, as owner of the company, Musk will have latitude to enact significant changes to the platform that may put pressure on other tech companies. When Musk officially takes Twitter private, the stock will be delisted from the NYSE, shareholders will be paid $54.20 per share, and the public board of directors (currently helmed by Salesforce co-CEO Bret Taylor) will be dissolved.

Leave a Reply

Your email address will not be published. Required fields are marked *