Twitter

Elon Musk has been attempting to back out of his bid to buy Twitter for $44 billion. Disney on Thursday revealed that they wanted to buy Twitter but ended up not going ahead with it because a “substantial portion” of its users “were not real”. Former Disney CEO Bob Iger said that the company discovered "with some of Twitter’s help that a substantial portion — not a majority — were not real." Responding to the news on Twitter, Elon Musk tweeted: "Interesting". Interesting … — Elon Musk (@elonmusk) September 8, 2022 The Tesla CEO had on September 5 claimed that 90 per cent of the comments on his tweets are made by bots. Close And 90% of my comments are bots pic.twitter.com/A7RKyNJZoR — Elon Musk (@elonmusk) September 5, 2022 This comes as the world's richest person is attempting to back out of his bid to buy Twitter for $44 billion. Musk has been claiming that the number of fake users on the micro-blogging site should allow him … [Read more...] about What Elon Musk tweeted on Disney not buying Twitter due to ‘significant’ no. of bots

Elon Musk's deal to take over Twitter is presently on hold. Elon Musk -- who has put his acquisition of Twitter on hold until clarity on the number of spam bots the platform has -- has commented on a report which says that 50 per cent of US President Joe Biden's Twitter followers are fake. According to the details released by Twitter, the bots are about 5 per cent of the active users. Elon Musk , however, disagrees. "Interesting. So … [checks calculator] … that would be like 10 times more than 5%," Musk commented on the report on Biden's Twitter followers. So … [checks calculator] … that would be like 10 times more than 5% — Elon Musk (@elonmusk) May 18, 2022 Close Or 14 times higher than Twitter’s 5% in my case — Elon Musk (@elonmusk) May 18, 2022 According to the Newsweek report, an audit tool provided by software company SparkToro found that 49.3 per cent of accounts following the official @POTUS Twitter account are "fake … [Read more...] about Half of Joe Biden Twitter followers fake, says report. Elon Musk has this to say

Elon Musk A majority of Twitter Inc's shareholders have voted in favor of the social media company's $44 billion sale to Elon Musk, people familiar with the tally said on Monday. The deadline for the shareholder vote on the deal is Tuesday but enough investors had voted by Monday evening for the outcome to be certain, the sources said. The sources requested anonymity ahead of an official announcement. Twitter and representatives for Musk did not immediately respond to requests for comment. Musk has informed Twitter he will not go ahead with the acquisition, arguing he was misled over the spam accounts on the platform and was not notified of a pay settlement the company reached with one of its top executives. The two sides are scheduled to battle it out in court next month. Shareholders were widely expected to vote in favor after a stock market downturn made Musk's $54.20-per-share deal for Twitter, which was signed in April, look pricey in the current environment. … [Read more...] about Most Twitter shareholders vote in favor of sale to Elon Musk: Sources

(CNN Business) Elon Musk may be fighting tooth-and-nail to get out of his deal to buy Twitter, but the social media company's shareholders plan to hold him to it. Twitter ( TWTR ) shareholders on Tuesday voted in favor of Musk's $44 billion takeover deal, a value of $54.20 per share. The company's stock opened Tuesday at just under $41 per share, nearly 25% below the deal price. The vote came days after Musk's third letter to Twitter seeking to terminate their deal, with this one pegged to a purported $7.75 million severance payment the company made to its former head of security, Peiter Zatko, who later blew the whistle about its alleged security and privacy vulnerabilities. In the letter, Musk's lawyers claimed the payment — said to have been made to Zatko and his lawyers on June 28 as part of a separation agreement — violated a provision of the acquisition contract. Twitter agreed not to provide any severance payments to employees in amounts … [Read more...] about Twitter shareholders vote in favor of Elon Musk’s $44 billion takeover deal

Share to Twitter Share to Linkedin Topline A strained deal to sell Twitter to billionaire Elon Musk has preliminarily passed a key shareholder vote, Reuters and the Wall Street Journal reported Monday, even as Musk tries to back out of the agreement and Twitter asks a court to force him to follow through. Key Facts Most of Twitter’s shareholders had voted to approve the $44 billion deal by Monday afternoon, Reuters reported, citing unnamed sources. The deal—which Twitter’s board of directors encouraged shareholders to support—is on track to pass its required shareholder vote decisively, according to the Journal , though the paper noted shareholders can still change their minds before a Tuesday deadline . A Twitter spokesperson did not comment to Forbes , saying the social media company will not share any information ahead of its Tuesday shareholder meeting . Key Background Musk’s surprise deal to acquire Twitter … [Read more...] about Twitter Shareholders Poised To Approve Deal With Elon Musk—Even As He Keeps Trying To Terminate It

Share to Twitter Share to Linkedin Twitter’s stock (NYSE: TWTR) has gained 9.2% in the last week, outperforming the S&P 500 (up 2.6%). Further, the same trend was observed over the last ten days (2.8% vs -3.1%). The company posted weak results in the second quarter, with both the revenues and earnings missing the consensus estimates. While revenues suffered due to headwinds in the digital advertising space, the average monetizable daily active usage (mDAU) still increased 17% y-o-y in the quarter. The street expects the firm to post growth in the third quarter, both sequentially and on a year-on-year basis. The consensus estimates of Q3 revenues and earnings are $1.3 billion and $0.02 respectively. In addition to this, last week a Delaware court denied Elon Musk’s request to delay the trial proceedings, which is scheduled to start on October 17. Notably, Twitter TWTR filed a lawsuit against Mr. Musk in July over his attempt to terminate the merger … [Read more...] about Twitter Stock Gained 9% In One Week, Where Is It Headed?

Share to Twitter Share to Linkedin Peiter “Mudge” Zatko, the former Twitter whistle-blower who claimed last month the company was guilty of “egregious” security lapses, told Congress that company leadership failed to take action against spies on its payroll. In testimony to the Senate Judiciary Committee on Tuesday, Zatko said that Twitter’s security precautions were so lacking that if an intelligence agency hadn’t infiltrated the company, “ you’re most likely not doing your job.” “I’m reminded of one conversation with an executive when I said, ‘I am confident that we have a foreign agent,’ and their response was, ‘Well, since we already have one, what does it matter if we have more? Let’s keep growing the office.’” Last month, in a whistle-blower complaint sent to the Justice Department and the SEC, Zatko claimed that an Indian government agent was working for Twitter while he was there between November 2020 and January 2022, and there were suspicions a … [Read more...] about Twitter Cared More About Growth Than Spies Infiltrating Company, Whistle-Blower Tells Congress

Share to Twitter Share to Linkedin Topline Twitter shareholders formally voted to accept Elon Musk’s $44 billion offer to take the company private, several outlets reported Tuesday afternoon, a largely expected move that adds to the bizarre, dramatic public showdown between the company and Musk as the world’s wealthiest man exhibits buyer’s remorse. Key Facts Twitter announced the vote’s passing in a five-minute investor call, according to CNBC. The vote nearly passed unanimously, as the company said a preliminary tally revealed 98.6% support. Reuters and the Wall Street Journal reported Monday night that Twitter received enough votes to pass the measure. Twitter shares rose .6% to $41.72 in Tuesday trading in an otherwise dismal day for markets. Key Background Twitter announced April 25 it agreed to terms with Musk, 21 days after Musk disclosed he became the company’s largest shareholder, potentially setting the … [Read more...] about Twitter Shareholders Formally Accept Musk’s $44 Billion Offer He’s Desperately Trying To Get Out Of

Budget carrier Go First is still working to restore its official Twitter account which has been hacked, an airline official said on Thursday. The hacking of the official Twitter account was flagged on Wednesday early morning. This is the second time this year that the handle has been compromised. The official said work is in progress to restore the account and that there are no issues with its IT systems. The account has more than two lakh followers. In a statement issued on Wednesday, the airline said its Twitter account has been compromised. All the teams concerned were investigating into the matter to restore and gain control at the earliest. It is also working closely with Twitter to address the issue, it said. On Wednesday after the account was compromised, the display name was changed to 'vitalik.eth' along with the picture of Vitalik Buterin. Buterin is one of the co-founders of crypto currency Ethereum. Later, the display name and picture were removed but the … [Read more...] about Go First says still working to restore its Twitter account

Share to Twitter Share to Linkedin Key takeaways Activist investors attempt to purchase enough shares in a company so that they can pressure management into changes they believe will improve shareholder value. As seen with Ryan Cohen, the actions of activist investors can also hurt retail investors, particularly when they exit their position. Paul Singer recently exited his Twitter position through his hedge fund, Elliott Management, while Elon Musk was attempting to acquire the company. When looking for investment advice, we often turn to the experts to see what they’re doing in addition to performing our own analysis. One strategy that some investors use is to follow the recent investments of top activist investors. These activist investors find publicly-traded companies they think could benefit from new initiatives, and attempt to put pressure on the management teams and executives running the show by purchasing large amounts of shares, … [Read more...] about Recent Investments By Top Activist Investors Include Bausch + Lomb, Twitter, BBBY & GameStop – Buyers Beware