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2022-07-14

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Hindenburg Bets on TWTR Stock as Twitter Sues Elon Musk

Hindenburg has taken a "significant" long position in Twitter (TWTR).This comes after the social med

Hindenburg Bets on TWTR Stock as Twitter Sues Elon Musk

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The acclaimed short seller disclosed taking a long position in TWTR stock, tweeting:</p><p><img src=\"https://static.tigerbbs.com/5561dca7e5b16fe3df33f53f7b97b98d\" tg-width=\"494\" tg-height=\"264\" width=\"100%\" height=\"auto\"/>Earlier this week, Musk announced that he would no longer pursue his $44 billion acquisition of the social media platform. In response, Twitter has sued the Tesla (NASDAQ:TSLA) CEO in Delaware court to hold him liable for the acquisition.</p><p>Now, it appears that Hindenburg believes that Twitter will emerge the victor in the legal battle. Let’s get into the details.</p><h3>TWTR Stock: Hindenburg Discloses Stake Amid Pending Litigation</h3><p>Both sides of the battle have very strong opinions. Through his lawyer, Musk believes that Twitter is “in material breach of multiple provisions.” These provisions include Twitter’s internal bot estimate of less than 5%, which Musk believes is higher. Twitter quipped back:</p><blockquote>Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.</blockquote><p>It will be ultimately up to the Delaware Court of Chancery to decide who is in the right. There is at least $1 billion on the table, as this is the breakup fee that was pledged during acquisition negotiations. Still, the court could also force Musk to follow through with his acquisition entirely.</p><p>It seems that Hindenburg has changed its mind since May. It had previously published a short report on Twitter titled “Musk Holds All The Cards.” The firm assigned TWTR a price target of $31.40 if the acquisition were to fall through. However, factors, such as the pending litigation, have changed that have clearly influenced Hindenburg to change its tune on the deal.</p><p>Musk has previously stated that he would sell his 9.2% TWTR stake if the deal fell through. At the time of writing, Musk still owns his 9.2% stake, although this may change in the coming days. Meanwhile, shares of Twitter are trading more than 30% below Musk’s proposed bid of $54.20. The below-offer price may attract investors in search of arbitrage opportunities.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hindenburg Bets on TWTR Stock as Twitter Sues Elon Musk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHindenburg Bets on TWTR Stock as Twitter Sues Elon Musk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-14 08:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/07/hindenburg-bets-on-twtr-stock-as-twitter-sues-elon-musk/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hindenburg has taken a \"significant\" long position in Twitter (TWTR).This comes after the social media company sued Elon Musk to hold him accountable for the $44 billion acquisition.Shares of TWTR ...</p>\n\n<a href=\"https://investorplace.com/2022/07/hindenburg-bets-on-twtr-stock-as-twitter-sues-elon-musk/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWTR":"Twitter","TSLA":"特斯拉"},"source_url":"https://investorplace.com/2022/07/hindenburg-bets-on-twtr-stock-as-twitter-sues-elon-musk/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107762551","content_text":"Hindenburg has taken a \"significant\" long position in Twitter (TWTR).This comes after the social media company sued Elon Musk to hold him accountable for the $44 billion acquisition.Shares of TWTR stock are down about 15% year-to-date.Twitter (NYSE:TWTR) has been at the center of attention this week, and Hindenburg Research has just added more fuel to the flame. The acclaimed short seller disclosed taking a long position in TWTR stock, tweeting:Earlier this week, Musk announced that he would no longer pursue his $44 billion acquisition of the social media platform. In response, Twitter has sued the Tesla (NASDAQ:TSLA) CEO in Delaware court to hold him liable for the acquisition.Now, it appears that Hindenburg believes that Twitter will emerge the victor in the legal battle. Let’s get into the details.TWTR Stock: Hindenburg Discloses Stake Amid Pending LitigationBoth sides of the battle have very strong opinions. Through his lawyer, Musk believes that Twitter is “in material breach of multiple provisions.” These provisions include Twitter’s internal bot estimate of less than 5%, which Musk believes is higher. Twitter quipped back:Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.It will be ultimately up to the Delaware Court of Chancery to decide who is in the right. There is at least $1 billion on the table, as this is the breakup fee that was pledged during acquisition negotiations. Still, the court could also force Musk to follow through with his acquisition entirely.It seems that Hindenburg has changed its mind since May. It had previously published a short report on Twitter titled “Musk Holds All The Cards.” The firm assigned TWTR a price target of $31.40 if the acquisition were to fall through. However, factors, such as the pending litigation, have changed that have clearly influenced Hindenburg to change its tune on the deal.Musk has previously stated that he would sell his 9.2% TWTR stake if the deal fell through. At the time of writing, Musk still owns his 9.2% stake, although this may change in the coming days. Meanwhile, shares of Twitter are trading more than 30% below Musk’s proposed bid of $54.20. 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