Twitter is trying to move back into its bullish zone, between the upper blue and red bands. The Wall Street Journal reported that the social media company met with Elon Musk yesterday to discuss his takeover bid. The total value of Musk's bid is $43 billion, or $54.20 per share - reported as being his "best and final" offer in a letter to the Twitter board.
Initially, Twitter spurned the offer, opting for a poison pill. However, it seems to be more receptive after Musk said last week that he has the funding to take Twitter private.
All eyes now turn to 28 April, when Twitter (TWTR.us) will release its quarterly results. The market forecast for Q1 is 2c eps compared with 9c eps for the previous comparable period. This decline will add pressure on Twitter's board as the market awaits an announcement regarding Musk's bid.
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.