‘Take the money...and run’: Musk's quick deal for Twitter highlights weaknesses


FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk at the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike Blake

(Reuters) - To understand the speed with which Twitter's board accepted Elon Musk's $44 billion buyout offer, look no further than the dim view Wall Street holds over Twitter's ability to reach lofty financial goals announced after demands by activist investor Elliott Management in 2020.

When Twitter reports quarterly financial results on Thursday, analysts expect user growth to lag behind what they need to reach aggressive 2023 growth targets that Jack Dorsey, the co-founder and then-chief executive of Twitter promised Wall Street. According to data from Refinitiv, Twitter is expected to miss this target and remain off track for the remainder of the year.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Amazon CEO denies full in-office mandate is 'backdoor layoff'
Musk now says it's 'pointless' to build a $25,000 Tesla for human drivers
Google defeats lawsuit over gift card fraud
Russian court fines Apple for not deleting two podcasts, RIA reports
GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers
Emerson sharpens automation focus with offer for rest of AspenTech in $15 billion deal
Palantir shares surge to record as AI boom powers forecast raise
Netflix under tax fraud investigation as offices in France and Netherlands raided
Singapore's Keppel to buy Japanese AI-ready data centre
Tesla increases wages for staff at German gigafactory by 4%

Others Also Read