Twitter Shares Rebound As Musk Says He Is “Still Committed” To Deal

Update (0750ET): Twitter shares are bouncing back now that Musk has clarified that the deal saga isn’t over yet: on the contrary, Musk just clarified that he is “still committed to the acquisition”.

Still committed to acquisition

— Elon Musk (@elonmusk) May 13, 2022

Twitter shares trading in the premarket have rallied on the clarification.

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Two weeks ago, after Twitter reported disappointing earnings and admitted that it was “overestimating” millions of users since 2019, we asked whether this “merits a purchase price adjustment.”

Twitter gets acquire and quickly admits it was “overestimating” millions of users since 2019. Does this merit a purchase price adjustment? cc: @elonmusk

— zerohedge (@zerohedge) April 28, 2022

A few days later, noted short-seller Hindenburg Research picked up on this and in a report warned that Twitter is overpriced and that there is

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