Wedbush analyst Dan Ives Sees <50 Chance of Twitter (TWTR) Deal Getting Done

May 16, 2022 6:55 AM EDT
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Wedbush analyst Daniel Ives reiterated an Outperform rating and $1,400.00 price target on Tesla (NASDAQ: TSLA) noting Elon Musk's $54.20 deal price for Twitter is "out the window in the Street's perspective" after the delay over whether bots/spam make up less than 5% of users.

The analyst stated "we view the $44 billion Twitter deal as having less than a 50% to get done as of today. The elephant in the room for the Twitter (NYSE: TWTR) board is Musk can walk away for a $1 billion as a small breakup fee (for Musk-all relative) and likely cite the bot/fake account issue as the reason, even though this likely would be contested by Twitter in the courts. If a revised deal does get done by Musk and Twitter, it will likely will be at a lower price once negotiations take over and the diligence happens around Twitter DAU and algorithms hot button issues."

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Shares of Tesla closed at $769.59 yesterday.

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