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Value of X has fallen 71% since purchase by Musk and name change from Twitter
(www.theguardian.com)
this post was submitted on 02 Jan 2024
508 points (97.4% liked)
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Grr that Elon, to hell with him
This is how the housing market works too! Buy a house for 500k, then loose a ton of value and sell for 50k. This way people can afford housing... just not you personally.
Value
There is no new value because currently, it is not for sale.
There is no price for Twitter right now and there wont be again till it goes back up for sale.
Rules were different when it was publicly traded, but articles (and the analysis behind it) like this are clickbait.
The price per share at the time of the purchase was $54.20. This price had already been considered ridiculous at the time. Plenty of analysts had Twitters price at the 10-20$ range.
Just go through the thought exercise of what you think the value is now versus when it was trading at 30-40$ range before the buy out. Now, what do you think its worth?
For illustrative purposes: if I was able to buy shares of Twitter, right now? I would consider paying between 0.5$-4$ a share. I dont think the product or brand is dead, but under Musk its a walking corpse. If I could buy shares now, at that price, I would, but only under the speculation that Musk is out. I would hedge accordingly.
A price only exists when one is willing to pay it. Everything is an opinion until a transaction occurs.
My price for Twitter is 2-5% of the price Musk paid for it (which it DEFINITELY wasn't worth), and maybe 4-12% of fair market value in the months prior to the purchase. As a machine that turned on and made money, it did so prior to Musk taking over. The price has to factor in the damages done to brand, reputation, product, infrastructure, and what it will cost to rebuild those. Then of course there are the damages to company culture.
So yeah. Probably worth 1-5% of what it was, and only if you can basically guarantee Musk is out as CEO.
Down by 71% but still elon musk is one of the richest in the world and can buy 20 more twitter without batting an eye
Money was never the goal. It was sabotage.
This was a hit and I'm betting it traces back to the Kremlin.
Bro, its not a secret. It was the Saudis.
Both, actually.