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Elon Musk sells a package of shares of Tesla worth 7,000 million dollars. What does this movement translate into? Here are some of the hypotheses that are being considered.
Elon Musk has us accustomed to moving the market at will. He already did it in his day with Tesla’s own price and, later, he preferred to use this strategy in the world of cryptocurrencies. Finally, the last of the controversies has been directly related to Twitter, one of the social networks that you do not have great competition in your particular market niche. The South African tycoon and the blue bird firm have had major clashes due to the interest in taking over their property.
Taking a quick look at the share price of Twitter, you can see how there has been a lot of speculation since it was first known that the CEO of Tesla he was interested in taking over the company. After comings and goings, it has been known that, finally, he will not buy the company. This, however, was not going to end here, since in the contract that was established a penalty was established in the event that the operation was not finally carried out. Is Elon Musk fearing the worst in the trial that will end up being held?
Just in case, one of the 2 richest people in the world, along with Jeff Bezos, is carrying out important movements to have enough cash to deal with a possible loss of the lawsuit. It all started with the sale of securities worth 7,000 million Tesla shares. Should more operations of this kind be performed? How much should Elon Musk pay in damages for not acquiring Twitter?
Twitter and Elon Musk at odds after months of major uproar
Who was going to tell us that this story dates back to just a few months ago? in full crash stock market experienced during the first half of the year, it seems that calm has reached the markets. At that time, decided to launch a bid for the company, which translated into about 44,000 million dollars. For this, he had the guarantee of cash and credits from several banking entities. After discussing the conditions, the ‘ok’ was given to the operation. What was the problem? The bot accounts.
Elon Musk has massively sold shares of Tesla to get cash Peru Retail
While Elon Musk claims that up to 20% of Twitter accounts are spam or they are controlled by computers, the social network highlights that it is only 5%. This divergence has damaged the relationship between the parties to the point that the purchase has not been finalized. In the event that it does not end with an agreement, the CEO of Tesla would have to pay a billion dollars. In his opinion, however, the presence of this vice would be outside the terms of the waiver with compensation, so you should not pay anything.
Everything seems to indicate that Elon Musk he’s covering his ass with this move. It is expected that over the next few months he will have to disburse money, in one way or another. That way, at least, you can deal with it. Some voices, according to information from slashgear, point out that this movement is an indicator that an agreement for the acquisition could be being reached. The contrary opinions suggest that there is a high probability that everything will end up translating into the passage of a multimillion-dollar compensation.
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Elon Musk Shakes Up The Market By Selling Nearly $7 Billion In Tesla Stock, And Twitter Has A Lot To Do With It