Elon is claiming there’s been a “material breach” of contract, trying to center the termination around the number of spam or bot accounts. In the letter to the SEC he also says having key personnel pushed out or resign changes the terms. But.. all this is grasping at straws because he has a signed contract.
Twitter shares have fallen 6% in the aftermarket to $34.57. He’s buying it for $54.20 – a 36% drop.
Elon Musk and Twitter’s CEO are currently together at the Sun Valley media and tech gathering where the biggest names get together with investors.