5 Stocks to Buy as Elon Musk Terminates His Twitter Deal

InvestorPlace2022-07-12

Here are the stocks to buy to benefit as Elon Musk backs out of the Twitter deal:Tesla: Musk's largest holding will no longer have to worry about compromised leadership.Digital World Acquisition Corp:...

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Comments

miker9110
2022-07-12
miker9110
K
jiunnnnn
2022-07-12
jiunnnnn
Ok
FT585
2022-07-12
FT585
Like
Helloyah
2022-07-12
Helloyah
oh!
MDK
2022-07-12
MDK
Good
Vincentan59
2022-07-12
Vincentan59
Better be careful all the 5 stock is very subjective

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After weeks of negotiations, the Tesla (NASDAQ:TSLA) CEO confirmed he wants to terminate his agreement to acquire Twitter. As a result, investors are looking for stocks to buy that may benefit from this development.On Friday, July 8, Musk’s legal team submitted a letter to Twitter’s board of directors. In it, they accused Twitter of being “in material breach of multiple provisions” of the initial agreement. The letter also stated the social media platform made “false and misleading representations.” These accusations are in line with Musk’s previous statements regarding Twitter’s bot count.Since Musk first announced his plans to acquire Twitter, many stocks have been affected. TWTR stock has been falling all morning on the news, although it it appears to be stabilizing. For other companies, though, the termination of Musk’s Twitter deal is good news. Several key stocks experienced significant volatility as the acquisition hung in the balance. Today, they are back to rising as markets adjust. Tesla investors who worried what Musk’s Twitter conquest would mean for his first company can breath a sigh of relief.Let’s take a look at the stocks to buy to benefit from Musk backing out of the deal.Tesla As soon as Musk announced his plans to takeover Twitter, Tesla investors started flashing the warning signal. It wasn’t hard to see why. Musk’s plans to establish alarger holding companyweren’t likely to excite Wall Street.But as the negotiations dragged on, more andmore experts agreedon one thing: Musk buying Twitter could easily sink TSLA stock. As they saw it, the CEO had already spread himself very thin between Tesla and his smaller companies. Adding a platform as big as Twitter would be the last straw and cause investors to jump ship.Now that Musk is moving to terminate the deal, he can give more attention to Tesla. The electric vehicle (EV) leader is coming off a difficult week after reporting disappointing second-quarter deliveries. But experts are looking at the road ahead, and with Musk shifting his focus to helping it grow, TSLA stock may be the biggest beneficiary from the Twitter deal’s termination.Digital World Acquisition Source: rafapress / ShutterstockDonald Trump may have criticized Musk, but his company and Digital World Acquisition are certainly going to benefit from the deal not going through. The former president recentlycalled the Twitter agreementa “rotten deal” and claimed he knew Musk wouldn’t go through with it.Despite all that, Trump Media and Technology Group’s platform Truth Social is going to benefit significantly from Musk not buying Twitter. The Tesla CEO’s plan centered on reduced moderation in discussions of ideas, which is also what makes Truth Social appealing to its user base. Now that the Twitter deal is in flux, Truth Social has one less competitor.While TSLA stock has fallen today, DWAC stock has been mostly rising. It dipped after an early morning spike but is once againtrending upward. This spike comes at a good time for the company. The stock has been dragged down by considerable legal woes over the past month, including multiple subpoenas.It is unclear what the long-term future of the Truth Social blank-check partner holds, but the termination of Musk’s Twitter deal may finally inspire some confidence in investors.Phunware Microcap penny stock Phunware has carved out a niche among Trump trades since DWAC stock’s unprecedented rise in October 2021. It often moves in solidarity with the latter, but today PHUN has multiple catalysts pushing it upward.Yes, news of Musk’s move to terminate the Twitter deal is helping it rise. But PHUN stock surged even more than DWAC inpre-market tradingdue to “anupdate on a notesold to an investor,” asInvestorPlacewriter William White reports.Although that news is certainly important, any growth PHUN stock sees in the near future will be due to its Trump trade status. Investor focus is on names like DWAC, which stand to benefit from the deal’s termination. Additionally, its low price may make PHUN stock a tempting play for investors looking to cash in before election season generates more growth for the Trump trades.CF Acquisition Corp VI This Trump trade is also known for moving in solidarity with DWAC stock. The special purpose acquisition company (SPAC) partner of video platform Rumble, CF Acquisition Corp VI spent plenty of time in the spotlight in early 2022.While coverage has since cooled a bit, Rumbleremains a forcein the growing conservative media movement. “If you have millions of Americans looking for more balanced social media, you can either change or get left out in the cold,” reportedInvestorPlacecontributor Ian Cooper.He also noted Meta Platforms and Alphabet’s YouTube “have to be most concerned about this massive desire for balance … Unless they change their algorithms, Rumble could seize a chunk of their audience.”Indeed, Rumble rose to prominence for its commitment to uncensored content. Now that Musk won’t be buying Twitter, it has less to worry about from an established social media competitor. And unlike DWAC, its success doesn’t hinge solely on Trump’s involvement. Among stocks to buy, it could be a better long-term investment that DWAC.DatChat The Trump trades aren’t the only market subsector that will benefit from Musk’s Twitter deal termination. Social media alternatives like DatChat  should also be counted among stocks to buy.Since 2021,alternative social media platformshave been rising in popularity as users have become concerned about data privacy and encryption. Musk statedhis goalsfor Twitter included “making the algorithms open source to increase trust.” AsWiredreported, under Musk, Twitter would have made it more difficult for users to remain anonymous or use pseudonyms.This could have cut into the market share of alternative social media platforms such as DatChat. As InvestorPlace reported in January, as the market prepared for Truth Social’s launch, “DatChathas gained notoriety in recent months as a social media option for those seeking a platform that prioritizes data privacy and protection. Its use of blockchain technology makes this possible, and it has resonated with retail investors.”With Twitter remaining as it is, platforms like DatChat can continue to grow without seeing their market share 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