“Markets worry about risk of Elon Musk focusing too much on social network recovery”

Secondlon Musk can blow. The Tesla boss was acquitted by a California jury on Friday, Feb. 2, over an August 2018 tweet he sent — now owned by the billionaire.In his post, he then announced he was pulling the automaker from Wall Street at $420 a share (up 23% from the previous day’s offer), ensuring he had ” safe” Operational financing. The action played a yo-yo while investors drank the soup. That was when Tesla achieved nothing, the Model 3 could not meet the production target, and the “boss” who camped out the factory day and night publicly declared bankruptcy…

Read decryption: Articles reserved for our subscribers Musk against Musk: The billionaire’s Twitter obsession undercuts his industrial success

Musk attended a final hearing just before the nine jurors deliberated.He took a big risk: Billions of dollars in losses “short sellers” Who ever bet on Tesla stock falling. “Thank God, the wisdom of the people prevailed!he reacted on Twitter. I am very grateful that the jury unanimously found me innocent. » Musk acknowledged that his tweet was worded incorrectly, but he didn’t back down.he hasn’t ” no way” Wanting to deceive investors, the Saudi Public Investment Fund is on his side, supplementing the stock market.

Also read: Twitter: According to the results of a survey he himself launched on the social network, Elon Musk should not continue to be the boss of the social network

2022 windfall profits

What is most interesting about the case is the role he assigns to the social network, which is due to be acquired by the end of 2022 for $44 billion (41 billion euros). “This is the most democratic form of communication”he pleaded in a San Francisco court in January because “It gives all investors the same access to information, big or small”. Shareholders’ little “people” also love his outings. Will the San Francisco lawsuit stop him from using Twitter compulsively or encourage him to abuse it, risking punishing his companies (including Space X)?

Tesla makes a huge profit ($12.6 billion) in 2022 and ramps up production to 1.3 million vehicles.But Musk admitted that the past few months “extremely difficult” The market is worried that the boss is paying too much attention to the risk of the social network’s recovery. You have to see the consistency in my investments, he replied. Twitter with 240 million daily users isn’t it? “A very effective tool” Advertise for…Tesla?

Also read: Articles reserved for our subscribers “Elon Musk is convinced he can achieve it all: Send humans into space and revive Twitter”

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