Attention Getter: Twitter Bankruptcy 📲

Table of Contents

Attention Getter: Twitter Bankruptcy

It’s crazy to say that Elon Musk acquired Twitter just two and a half weeks ago because it feels like they’ve been through a year together. Musk has instantly started to make changes to the company, revamping it to something that fits his standards and ideologies. So far, we’ve seen the $8 subscription fee for a verified checkmark go into place, along with a massive layoff of half the workforce that caused mass hysteria. The top brass was cleared out as Musk became the new CEO, and he has implemented new features and guidelines on the app including a harsh punishment on impersonation accounts.

It’s been only changes so far, but Thursday provided us with a dark side that we are now getting to know. Musk held an emergency meeting for the employees, calling for dark times ahead for the company. Musk used the B-word that is equivalent to death in the world of business: bankruptcy. Yeah, Musk said that he doesn’t rule out the company filing for bankruptcy next year and that there is a long road ahead to prevent that. Because of this, Musk also informed employees that remote work is no longer allowed without an exception, a stark difference from Twitter’s previous policy that allowed workers to work from anywhere. Musk has been ardent about the importance of office work during the pandemic, saying remote work decreases productivity among other things. All of the uncertainty regarding the company is causing executives to jump ship, with Chief Information Security Officer Lea Kissner and Chief Privacy Officer Damien Kieran announcing their departure from the platform. The euphoria from the acquisition is quickly wearing out and Musk has a big problem at his hands.

Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.