Musk’s purchase of Twitter has gone through! Twitter is delisted with immediate effect. 📉

Musk’s purchase of Twitter has gone through! Twitter is delisted with immediate effect.

The company is going private following its acquisition by Elon Musk, the CEO of Tesla and SpaceX. Musk has been trying to complete his purchase of the social media stock for some time. The process has dragged on for months, keeping investors and Twitter users alike at the edge of their seats, but it seems like it is finally taking effect. The $44 billion deal is almost finalized and the stock is officially being removed from the hands of public shareholders today. Shareholders common stock will be cancelled and converted into a right to receive $54.20 in cash for each share.

The soon-to-be owner of the company has stated that he wants to encourage ‘free speech’ on the social media platform and has suggested that he wants to initiate a payment system for users. Unlike public companies, private trading companies are scrutinized less and do not have to reveal quarterly statements publicly. This means Musk can have flexibility to make changes to Twitter without having to worry about the investing public. He could even bring Donald Trump back onto the platform. We can be sure Musk has some big plans for Twitter.

Will Musk bring Twitter back to the public market? How long will it remain a privately held company?

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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.

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