Musk in Twitter spat with short seller: World’s richest man tells analysts to ‘look on the bright side of life’ after crash warning
Swoop: Elon Musk (pictured) agreed a £35bn deal to buy Twitter last month
Elon Musk encouraged a short seller to ‘look on the bright side of life’ after it warned Twitter’s value could crash by 50% if he walked away from his takeover of the platform.
Musk, the world’s richest man, agreed a £35billion deal to buy Twitter last month after initially buying a 9 per cent stake in the company.
But analysts at Hindenburg Research said ‘multiple developments’ have weakened the firm since the Tesla boss disclosed his original holding and that there was a ‘significant risk’ the price of the takeover would be reduced.
Musk quickly responded on Twitter, saying the short seller should not forget to ‘look on the bright side of life sometimes!’
The research house replied that they were ‘optimists’ and believed he could get the deal done, but at a ‘more reasonable price’.