Twitter shares (TWTR) had surged 13% in pre-market trading. But the stock fell slightly in the early afternoon Thursday on fears Twitter would rebuff Musk's offer and he would dump his stake and send the share price reeling.
CFRA Research analyst Angelo Zino agrees, Twitter's stock could take a sizable hit if they turn Musk away.
"Clearly. I think this [Twitter's stock] gravitates back to the low to mid-$30 range [without a Musk deal]," Zino said on Yahoo Finance Live. The analyst downgraded his rating on Twitter Thursday to Hold from Buy.
Twitter stock could crash 20% if board rejects Elon Musk's offer: analyst
I kind of hope they do reject his offer, the stock tanks, and then he makes a new lower offer to the board just to kick them in the nuts! Or just by passes the board and starts buying the crap out of the stock after announcing that he will offer stock holders $10.00 above the current price. (if that is legal by the way. I don't play stock market)
CFRA Research analyst Angelo Zino agrees, Twitter's stock could take a sizable hit if they turn Musk away.
"Clearly. I think this [Twitter's stock] gravitates back to the low to mid-$30 range [without a Musk deal]," Zino said on Yahoo Finance Live. The analyst downgraded his rating on Twitter Thursday to Hold from Buy.
Twitter stock could crash 20% if board rejects Elon Musk's offer: analyst
I kind of hope they do reject his offer, the stock tanks, and then he makes a new lower offer to the board just to kick them in the nuts! Or just by passes the board and starts buying the crap out of the stock after announcing that he will offer stock holders $10.00 above the current price. (if that is legal by the way. I don't play stock market)