Elon Musk says he never wanted Twitter, but there’s no way out for him now 🔎 Analysis by stokel
, and the incorrect displaying of content, as temporary problems that were quickly solved when they arrived. The site was currently working fine, he said, not entirely convincingly.
Musk even admitted to being sold a pup, responding to questions about claims he made in December that he would step down as Twitter CEO once he found a suitable replacement by saying that hisIt was an interview that demonstrated the challenges ahead Musk faces.
Given all that, there is an uphill battle to turn the site around, reckons Dan Ives, managing director and senior equity analyst at Wedbush Securities. “Musk at this point holds the bag with Twitter, with a valuation we believe is closer to a $15 billion number compared to the $44bn purchase price,” he said. “It’s buyer’s remorse, but now Musk must try to turn around this troubled asset which is starting to happen with cashflow breakeven on the horizon.”
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