Twitter Plunges After Musk Pumps Brakes on Deal
Shares were trading at a discount to Elon Musk's offer amid skepticism the deal would succeed, and fell Friday morning after he put the deal "temporarily on hold."
Twitter (TWTR) is set to dive at the U.S. open, with premarket indicators pointing to a 15% drop in price for the company, which would push its shares below the $39 they were at just before Elon Musk disclosed his initial 9% stake at the beginning of April.
Lukas Strobl does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.