Twitter Shares Sink After Musk Says He’s Ending Acquisition Bid
From bnnbloomberg.ca
Twitter Inc. shares dropped late on Friday after Elon Musk said he’s terminating the $44 billion agreement to acquire the social media company. The stock fell as much as 9% in postmarket trading after a regulatory filing from Musk laid out his case for abandoning the deal. The news sent shares of Tesla Inc., the electric car maker that Musk leads, up as much as 3% while social media peers Snap Inc. and Pinterest slid about 1%. Twitter shares have been on a rollercoaster ride since Musk offered to buy the company in late April but have fared better than other technology stocks, which have been under pressure amid ...
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