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Elon Musk Begs Advertisers to Return as Twitter's Revenue Plunges (futurism.com)

submitted 5 months ago by RedditEnjoyer@lemmy.world to c/technology@lemmy.world

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[–] NotMyOldRedditName@lemmy.world 1 points 5 months ago* (last edited 5 months ago) (1 children)

I still feel like the way he sold all that stock for Twitter on the open market wasn't in the best interest of the shareholders.

Why didn't he try to negotiate a sale with Blackrock or someone and give them a 25% discount or something and do a large block sale.

Pretty sure something like that is an option if done right. It still would have hurt the stock price, but the Twitter sale was pretty brutal with it going on for weeks.

[–] sugar_in_your_tea@sh.itjust.works 2 points 5 months ago

There's only so much you can do to move $40B of stock, and he didn't think Twitter would actually accept, so he had to scramble a bit. He was caught between various SEC rules, which was his own doing, but it does explain the behavior.