A previous article highlighted Elon Musk's accusation of breach of contract due to the Twitter's failure to provide him with spam details regarding its platform. However, a recent Washington Post article suggests that TWTR.us will give Elon Musk access to its "firehose" of raw data. However, this development is yet to be confirmed, with neither Musk nor Twitter commenting.
If proved true, this is significant on two levels. Firstly, on Monday, Texas Attorney General Ken Paxton announced investigations into Twitter's lack of disclosure of spam bots and fake accounts. Secondly, it may be a play to capitalise on Elon Musk's takeover bid at $54.20/share, which is a 38.2% premium on Twitter's (TWTR.us) current price/share of $39.23. This idea assumes, of course, that the spam is within the acceptable limit of 5%.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.