Get up to speed as Communications analyst Andrew Freedman & Hedgeye CEO Keith McCullough highlight how Elon Musk’s potential Twitter (TWTR) deal could be dead in the water, as Musk tries to find new ways to back out or acquire the social media platform at a lower price.
“It’s turning into a complete fiasco, which I guess should come as a surprise to anybody,” Freedman explains. “Now if you look at the proxy, Elon did waive business due diligence on April 21st after he secured financing. So if this mDAU issue is such a concern, he probably should have thought about it sooner. It’s a little bit absurd that he is asking. It either shows a lack of understanding the business or he really did get caught here playing his own game and is trying to find some reason to either back out of the deal (which he’s contractually locked into), or trying to get the price down because he realized that he’s probably overpaying.”
“Never in the history of CNBC have they even said half of what we just said over the course of less than three minutes. Never. Why? Cause they need access,” highlights McCullough.
“Brilliant people can be full of shit, okay? That is okay to say that. If he’s as smart as you think he is, then he either knows what Freedman said and is outright lying to you, or he’s not as brilliant as you think he is because he hasn’t done the f*cking work.”
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