Twitter loses all of its gains from the Elon Musk saga

Credit: Kevin Krejci/Flickr CC BY 2.0

Twitter stock (NYSE: TWTR) has lost all of the gains it once had during the peak of the Elon Musk acquisition saga, now trading at the same levels it did before the Tesla CEO disclosed a massive 9.1 percent ownership stake in the social media company.

On April 1, 2022, Twitter shares closed at $39.31, and investors had no idea that the next several weeks would amount to unimaginable gains catalyzed by the CEO of the world’s leading electric vehicle company purchasing the stock. The following Monday, April 4, Musk disclosed his ownership stake in Twitter in a filing with the SEC, and shares went skyward.

From April 4 to the final trading day of the month on the 29, Twitter shares rose 24.70 percent, basically all off of Musk’s ownership disclosure and eventual deal to purchase the platform for $44 billion, or $54.20 per share. Shares went to as high as $52.10 on April 25 when Twitter announced it would accept Musk’s offer.

However, all good things come to an end and the hype of the acquisition began to subside. Twitter has fallen for six straight trading days and is well on its way to a seventh, as shares are trading at $38.25 at 1:11 PM ET, down nearly 6 percent. The gains from Musk’s investment have slowly melted away.

There is a lot of speculation as to why the stock began to tumble, as there are many moving parts to the deal that could have negatively affected investor sentiment regarding the Musk deal.

After Twitter detailed a small concentration, less than 5 percent, of its user population being composed of spam/scam accounts, Musk challenged the claim and stated that the acquisition deal would be put “on hold” until his team could run its own experiment to determine a more number that seemed to be more realistic.

While Musk stated he is still interested in carrying out the deal, analysts have stated that they believe Musk is looking for a way out, perhaps backtracking from the acquisition.

Since the beginning of 2022, Twitter shares are down about 6 percent.

Disclosure: Joey Klender is a TSLA Shareholder, but has no positions in TWTR stock.

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Joey Klender: Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his time at TESLARATI, Joey has broken several big stories, including the first images of the Tesla Model S Plaid, the imminent release of the 4680 Model Y through EPA certification, and several expansions to the Lucid AMP-1 factory in Arizona, to name a few. His stories have been featured in several publications, including Yahoo! Finance, Fox News, CNET, and Seeking Alpha. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at He is also on Twitter @KlenderJoey.
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