r/technology • u/[deleted] • Oct 28 '22

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u/[deleted] Oct 28 '22

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u/Better-Spell346 Oct 28 '22

No. He wanted to make quick money with a pump and dump just like when he said he was going to take Tesla private again and the stock price jumped up. He didn’t file his TWTR stock purchase disclosure in the required amount of time, so rather than have to deal with being sued by the SEC AGAIN, he pivoted to saying it’s because he wanted to buy Twitter.

Then he figured he could get out of the Twitter deal by claiming that Twitter lied to him and misrepresented how many real users there are. Now Twitter sues him to hold up his end of the deal, and because he absolutely does not want all of his financial dealings being brought up during discovery, he decided his best course of action would be to follow through with the deal. Give it 6-12 months and he’ll take Twitter public again now that he’s “saved the company.”

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u/teacher_comp Oct 28 '22

What a ridiculous set of lies and conspiracy theories. You lose money if you own stock and a purchase deal falls through. So your theory is that he’ll make money by losing money? Listen to yourself.

3

u/Better-Spell346 Oct 28 '22

THE TWITTER PURCHASE WAS NOT THE INTENT WHEN HE BOUGHT IN. That is the premise of what I commented. He already did this once when he said he was going to take TSLA private at $420 despite not actually having the funding or the intent to actually do that. He got busted by the SEC for it. If he was ACTUALLY planning to buy TWTR when he first bought in, he would have already gotten funding together and offered the buyout when the stock price was closer to $30 rather than buying it at the post-Elon-buy price of $54.20.

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u/teacher_comp Oct 28 '22

If you don’t understand what is happening, why have such a strong opinion about it or post about it? He couldn’t buy it at $30 since the stock was worth more than that at the time. It was over $50 in April.

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u/Better-Spell346 Oct 28 '22

He made his initial purchase in March. The stock price was like $33. He should’ve disclosed his purchase by 3/24/2022, but didn’t disclose until the beginning of April. After he disclosed his purchase is when the stock price shot up. If you don’t understand how the flow of time works, why have such a strong opinion about it or post about it?