Twitter: Wedbush still on hold
(CercleFinance.com) - Wedbush confirms its "neutral" rating on Twitter shares, with an unchanged target price of 54.
2 dollars (current price: 50.6 dollars, -1.3%).
On Tuesday Twitter said that it had received a letter from Elon Musk stating his intention to buy the platform at a price of 54.2 dollars per share, which is the same price as in his initial offer last April. This would value Twitter at 44 billion dollars.
For the record, Elon Musk backed out over the summer, citing a lack of information about the number of fake accounts on the platform. This decision led Twitter's management to launch legal proceedings against him.
The ball is now in Twitter's court: accepting the Musk offer would put an end to the dispute between the two parties.
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