In short, neither Twitter nor Elon Musk They’ve had an easy week. By now, the intense drama experienced by the supposedly richest man in the world with the matter of acquiring this social network is well known.
We have already detailed the account of how the purchase took place on previous occasions, with all the twists and turns that have arisen both inside and outside the platform. It is a process that took almost a year to materialize and that increasingly seems to make it clear to us that it was a monumental financial comedy of entanglements.
Where Elon Musk got involved to squeeze as much value out of his shares as possible but in the end was forced to make a $44 billion purchase of a site that he accused at every opportunity of being a bad deal, until he was about to of being forced to go to trial and lose.
Now, a week after having his new toy, we have seen a brutal series of personnel cuts, at the same time that he plans to impose a series of new charges on users.
Some romantics have compared these extreme changes described above with what Steve Jobs did when she returned to Apple to birth the iMac, the iPod, and the brand’s 21st century renaissance.
But the objective reality is that it is an action driven in both cases by the urgency of recovering liquidity and balance in finances.
And now Musk has just done something that makes everything even more complex for those who have invested in his projects.
According to friends of CNBCElon Musk would have abruptly sold, between November 4 and 8, a total of 19.5 million shares of Tesla Motors, which is equivalent to US$3.95 billionand this does not make those who have already bet on the automaker happy at all:
“Our fear heading into the final days of the deal was that Musk would be forced to sell more Tesla stock to fund the disastrous Twitter deal, and those fears ultimately came true, which speaks to some of the pressures. massive sell-offs in stocks of late.
Musk, who has said several times over the past year that he is ‘finished selling Tesla stock’, is once again losing credibility with investors and his supporters, in a sort of recreation of the boy who cried ‘here comes the wolf.’” .
This is what Daniel Ives, from the Wedbush firm, points out in his financial evaluation (via Yahoo! Finance). This situation leaves the entire Elon emporium in an even more delicate situation.
Especially if we consider that Twitter suffered “a massive drop in revenue” as soon as Musk took control, due to the group exit of advertisers.