According to the report, X executives have already reached out to potential partners that would help them implement the new feature. The Elon Musk-owned social media is currently looking for providers of “financial content, real-time stock data, and other features.”

Further details about X’s trading hub plans remain under wraps, with the company failing to provide comments when reached out to by Reuters.

Adding a trading hub would fit the plans that Musk laid out for the social media platform after acquiring it for $44 billion in October. At the time, Musk said that he plans to turn Twitter into a “super app” and compared it to Chinese WeChat. Besides being used for messaging and social media interaction, WeChat also has various other features, including mobile payments.

Back in April, X partnered up with the investment platform eToro to provide its users with real-time information about stocks and cryptocurrencies. The partnership also allows X users to access eToro’s trading platform with a single click if they wish to engage in trading. 

The post Social Media X (ex-Twitter) Wants to Add a Trading Hub to its App appeared first on theprimarymarket.com.

Following Elon Musk’s takeover of the social media platform last year, Twitter signed a multi-year contract with Google for the service in an effort to fight spam and protect the company’s accounts.

Currently, Twitter hosts some of its services on the Google Cloud server while housing others on Amazon’s Cloud platform. Still, the exact extent to which Twitter’s trust and safety teams are set to be impacted remains unclear.

According to reports, Twitter has been attempting to renegotiate its contract with Google Cloud since March. It has since been unable to reach an agreement.

In March, Twitter’s outstanding bills to Amazon Web Services led Amazon to withhold its advertising payments to the social media platform.

The post Twitter Refuses to Pay Google Cloud Bills, Jeopardising Trust appeared first on theprimarymarket.com.

In addition to affirming her commitment to the company, Yaccarino emphasized the importance of receiving feedback from users as a means of constantly improving the platform, calling this approach “vital to that future.”

“I’m here for all of it,” Yaccarino stated. “Let’s keep the conversation going and build Twitter 2.0 together!”

Joining Yaccarino after leaving her role as head of global advertising at NBCUniversal, Yaccarino is expected to work closely with Musk to help him achieve his future vision. Musk will continue to serve as the social media platform’s chief technology officer and executive chairman.

Musk laid off approximately 75% of Twitter’s workforce since acquiring the company in October last year. In addition to bolstering her workforce, Yaccarino will also need to address the advertiser exodus that Twitter has since faced, particularly after the uncertainty caused by Musk’s inconsistent content moderation standards and his own Tweets.

The post New Twitter CEO Releases First Statement After Securing Job appeared first on theprimarymarket.com.

Ross Gerber, president, and CEO at Gerber Kawasaki Wealth & Investment Management confirmed that a Musk representative reached out to him with an offer of more Twitter shares at the same price of $54.20 that Musk paid when he took the company public in October. Both Twitter and Musk have not yet responded to Reuters’ questions on the matter.

Following Musk’s new approach to regulating tweets and the company’s struggle to hit revenues and pay interest on the $13 billion debt that Musk took to acquire the company, advertisers have responded negatively, with many pulling out of Twitter.

In an effort to put money back into the company, Musk sold $3.6 billion worth of shares in Tesla earlier in the week. Last week, Tesla posted its biggest weekly loss since March 2020 as investors worry over Musks’ distraction with Twitter and the slowing electric vehicle economy.

The post Elon Musk Seeks New Funding for Twitter appeared first on theprimarymarket.com.

Musk sent a letter to Twitter stating his intent to complete the takeover for the originally agreed price of $54.20 per share. This immediately sent the Twitter stock surging from $42.60 close on Monday to $52.02 at one point on Tuesday.

Twitter later confirmed the new development in an official statement sent out by the company’s spokesperson. Musk himself also made it official on his Twitter account, tweeting that “Buying Twitter is an accelerant to creating X, the everything app.”

There are no specific details about the “X” app Musk mentions. However, reports indicate that the app should combine messaging features, social media, payment options, and more. The closest comparison to it is China’s WeChat.

Elon Musk made an offer of $44 billion for Twitter earlier this year, with his bid accepted by the company’s shareholders. However, Musk later tried to nix the deal, claiming that the platform had a bigger number of fake and spam accounts than the company was willing to reveal.

Twitter decided to handle the matter in court, filing a lawsuit to force Musk to complete the deal. The

the trial was set to begin in less than two weeks.

The post Elon Musk Changes His Mind, Makes an Offer to Buy Twitter Again appeared first on theprimarymarket.com.

CNN reported earlier this week that Zatko sent a disclosure to US Congress and federal agencies in which he accused Twitter of grave cybersecurity negligence. In the disclosure, Zatko says that the company is allowing access to sensitive information to employees who shouldn’t have that clearance, uses outdated software, and has other practices that make it vulnerable to cyber-attacks and leaks of data. He also alleges that the company doesn’t handle information from deleted accounts properly and isn’t motivated to do something about bots and fake accounts on the platform.

Zatko, who made his name as a hacker, was hired by Twitter back in 2020 to help the company deal with mounting cybersecurity issues. However, the company decided to let him go earlier this year due to “poor performances.” Zatko, on the other hand, claims he was fired because he tried to flag various issues with the management.

“Mr. Zatko’s allegations and opportunistic timing appear designed to capture attention and inflict harm on Twitter, its customers, and its shareholders. Security and privacy have long been company-wide priorities at Twitter and will continue to be,” said Twitter in a statement shared with CNN.

The post Twitter’s Former Head of Security Accuses the Company of Cybersecurity Negligence appeared first on theprimarymarket.com.

Musk made an official $44 billion bid for Twitter back in April but decided to pull out of the deal earlier this month. The billionaire explained his decision by saying that the social media powerhouse “is in material breach of multiple provisions” of the agreement. Among other things, Musk singled out Twitter’s unwillingness to give him access to data about fake/spam accounts and the company’s recent layoffs.

Twitter believes that Musk needs to close the purchase and is not giving up on the sale. The company is trying to force the deal to go through despite Musk’s decision or at least get the $1 billion breakup fee. Their chances of getting either of those is now a lot bigger thanks to the granted trial.

Twitter previously wanted the trial to take place in September, wanting to wrap it up before October 24, 2022, a deadline that allows both sides to walk away from the agreement if the deal isn’t finalized. On the other hand, Musk wanted to have the trial pushed back to February. In the end,  McCormick sided with the social media company.

“The reality is that delay threatens irreparable harm to the seller, Twitter, for the reasons I described earlier: The longer the delay, the greater the risk. Given this reality I think a schedule closer to the norm is in order. For this reason, I think we should go to trial in October of this year,” McCormick said in her ruling on Tuesday.

The post Twitter Granted 5-Day Trial Against Elon Musk in October appeared first on theprimarymarket.com.

With this court case on the horizon, there are some with strong opinions regarding what this means from a financial perspective—including Rosenblatt Securities tech analyst Barton Crockett.

Based on Crockett’s current actions, it’s safe to assume that he’s giving the green light to buy Twitter stock. After moving his price stock from $33 to $52, and changing his rating from Neutral to Buy, he showed everyone where he stood on the matter.

With all of the chaos surrounding Twitter and Elon Musk, many have started to lose faith in Twitter stock—but Crockett is actually a lot more on the optimistic side of things.

He also had this to say on the topic: “We reviewed new, more detailed disclosures in Twitter’s lawsuit against Elon Musk, and our former skepticism about Twitter has been flipped.”

He went on to say that although he and his team had originally seen “meaningful risk” around Twitter, newfound skepticism over Musk’s claims has led him to change his mind on the topic. Ultimately, Crockett believes that Twitter will look better than Musk coming out of this case.

The post Tech Analyst Recommends Sticking With Twitter appeared first on theprimarymarket.com.

Wall Street Will Be Less Trusting

The primary reason that Musk backed out of the deal was reportedly due to a lack of transparency about the presence of bot accounts on Twitter. This may have a level of truth and it may not, but nevertheless, it’s going to affect the way Wall Street perceives Twitter. Musk has that level of sway.

This Entire Fiasco Will Have Long-Term Effects

When the world believed that Twitter was going to belong to Musk, the company was also going through major changes. A massive employee haul took place, and a new CEO emerged by the name of Parag Agrawal. Amid the changes, Musk’s new presence left people optimistic about the company’s new direction. But now that he’s on his way out, it feels like Twitter might be dead in the water.

The post Will Elon Musk’s Backout Affect Twitter’s Worth? appeared first on theprimarymarket.com.

According to Musk’s letter, Twitter “is in material breach of multiple provisions” of the deal and “has not complied with its contractual obligations.” Musk singled out the company’s refusal to give him data about fake and spam accounts and firing of “two key, high-ranking employees” and “a third of its talent acquisition team.”

Twitter, on the other hand, is unlikely to accept Musk’s withdrawal. The company’s chairman Bret Taylor already announced that the company remains committed to the deal and “plans to pursue legal action to enforce the merger agreement.”

This looks like just the beginning of the Musk vs. Twitter saga. The most likely scenario will be a long and messy legal battle that will see Musk trying to prove he pulled out of the deal fair and square while Twitter will try to make him complete it. There is a chance that the company will at least try to get its hands on the $1 billion break-up fee stated in the contract.

After the news broke out, Twitter shares plunged five percent in extended trading. The stock dipped as low as $34.04 before bouncing to $34.78. This marked its lowest point since May.

The post Elon Musk Pulls Out of Twitter Deal appeared first on theprimarymarket.com.

According to the report, X executives have already reached out to potential partners that would help them implement the new feature. The Elon Musk-owned social media is currently looking for providers of “financial content, real-time stock data, and other features.”

Further details about X’s trading hub plans remain under wraps, with the company failing to provide comments when reached out to by Reuters.

Adding a trading hub would fit the plans that Musk laid out for the social media platform after acquiring it for $44 billion in October. At the time, Musk said that he plans to turn Twitter into a “super app” and compared it to Chinese WeChat. Besides being used for messaging and social media interaction, WeChat also has various other features, including mobile payments.

Back in April, X partnered up with the investment platform eToro to provide its users with real-time information about stocks and cryptocurrencies. The partnership also allows X users to access eToro’s trading platform with a single click if they wish to engage in trading. 

The post Social Media X (ex-Twitter) Wants to Add a Trading Hub to its App appeared first on theprimarymarket.com.

Following Elon Musk’s takeover of the social media platform last year, Twitter signed a multi-year contract with Google for the service in an effort to fight spam and protect the company’s accounts.

Currently, Twitter hosts some of its services on the Google Cloud server while housing others on Amazon’s Cloud platform. Still, the exact extent to which Twitter’s trust and safety teams are set to be impacted remains unclear.

According to reports, Twitter has been attempting to renegotiate its contract with Google Cloud since March. It has since been unable to reach an agreement.

In March, Twitter’s outstanding bills to Amazon Web Services led Amazon to withhold its advertising payments to the social media platform.

The post Twitter Refuses to Pay Google Cloud Bills, Jeopardising Trust appeared first on theprimarymarket.com.

In addition to affirming her commitment to the company, Yaccarino emphasized the importance of receiving feedback from users as a means of constantly improving the platform, calling this approach “vital to that future.”

“I’m here for all of it,” Yaccarino stated. “Let’s keep the conversation going and build Twitter 2.0 together!”

Joining Yaccarino after leaving her role as head of global advertising at NBCUniversal, Yaccarino is expected to work closely with Musk to help him achieve his future vision. Musk will continue to serve as the social media platform’s chief technology officer and executive chairman.

Musk laid off approximately 75% of Twitter’s workforce since acquiring the company in October last year. In addition to bolstering her workforce, Yaccarino will also need to address the advertiser exodus that Twitter has since faced, particularly after the uncertainty caused by Musk’s inconsistent content moderation standards and his own Tweets.

The post New Twitter CEO Releases First Statement After Securing Job appeared first on theprimarymarket.com.

Ross Gerber, president, and CEO at Gerber Kawasaki Wealth & Investment Management confirmed that a Musk representative reached out to him with an offer of more Twitter shares at the same price of $54.20 that Musk paid when he took the company public in October. Both Twitter and Musk have not yet responded to Reuters’ questions on the matter.

Following Musk’s new approach to regulating tweets and the company’s struggle to hit revenues and pay interest on the $13 billion debt that Musk took to acquire the company, advertisers have responded negatively, with many pulling out of Twitter.

In an effort to put money back into the company, Musk sold $3.6 billion worth of shares in Tesla earlier in the week. Last week, Tesla posted its biggest weekly loss since March 2020 as investors worry over Musks’ distraction with Twitter and the slowing electric vehicle economy.

The post Elon Musk Seeks New Funding for Twitter appeared first on theprimarymarket.com.

Musk sent a letter to Twitter stating his intent to complete the takeover for the originally agreed price of $54.20 per share. This immediately sent the Twitter stock surging from $42.60 close on Monday to $52.02 at one point on Tuesday.

Twitter later confirmed the new development in an official statement sent out by the company’s spokesperson. Musk himself also made it official on his Twitter account, tweeting that “Buying Twitter is an accelerant to creating X, the everything app.”

There are no specific details about the “X” app Musk mentions. However, reports indicate that the app should combine messaging features, social media, payment options, and more. The closest comparison to it is China’s WeChat.

Elon Musk made an offer of $44 billion for Twitter earlier this year, with his bid accepted by the company’s shareholders. However, Musk later tried to nix the deal, claiming that the platform had a bigger number of fake and spam accounts than the company was willing to reveal.

Twitter decided to handle the matter in court, filing a lawsuit to force Musk to complete the deal. The

the trial was set to begin in less than two weeks.

The post Elon Musk Changes His Mind, Makes an Offer to Buy Twitter Again appeared first on theprimarymarket.com.

CNN reported earlier this week that Zatko sent a disclosure to US Congress and federal agencies in which he accused Twitter of grave cybersecurity negligence. In the disclosure, Zatko says that the company is allowing access to sensitive information to employees who shouldn’t have that clearance, uses outdated software, and has other practices that make it vulnerable to cyber-attacks and leaks of data. He also alleges that the company doesn’t handle information from deleted accounts properly and isn’t motivated to do something about bots and fake accounts on the platform.

Zatko, who made his name as a hacker, was hired by Twitter back in 2020 to help the company deal with mounting cybersecurity issues. However, the company decided to let him go earlier this year due to “poor performances.” Zatko, on the other hand, claims he was fired because he tried to flag various issues with the management.

“Mr. Zatko’s allegations and opportunistic timing appear designed to capture attention and inflict harm on Twitter, its customers, and its shareholders. Security and privacy have long been company-wide priorities at Twitter and will continue to be,” said Twitter in a statement shared with CNN.

The post Twitter’s Former Head of Security Accuses the Company of Cybersecurity Negligence appeared first on theprimarymarket.com.

Musk made an official $44 billion bid for Twitter back in April but decided to pull out of the deal earlier this month. The billionaire explained his decision by saying that the social media powerhouse “is in material breach of multiple provisions” of the agreement. Among other things, Musk singled out Twitter’s unwillingness to give him access to data about fake/spam accounts and the company’s recent layoffs.

Twitter believes that Musk needs to close the purchase and is not giving up on the sale. The company is trying to force the deal to go through despite Musk’s decision or at least get the $1 billion breakup fee. Their chances of getting either of those is now a lot bigger thanks to the granted trial.

Twitter previously wanted the trial to take place in September, wanting to wrap it up before October 24, 2022, a deadline that allows both sides to walk away from the agreement if the deal isn’t finalized. On the other hand, Musk wanted to have the trial pushed back to February. In the end,  McCormick sided with the social media company.

“The reality is that delay threatens irreparable harm to the seller, Twitter, for the reasons I described earlier: The longer the delay, the greater the risk. Given this reality I think a schedule closer to the norm is in order. For this reason, I think we should go to trial in October of this year,” McCormick said in her ruling on Tuesday.

The post Twitter Granted 5-Day Trial Against Elon Musk in October appeared first on theprimarymarket.com.

With this court case on the horizon, there are some with strong opinions regarding what this means from a financial perspective—including Rosenblatt Securities tech analyst Barton Crockett.

Based on Crockett’s current actions, it’s safe to assume that he’s giving the green light to buy Twitter stock. After moving his price stock from $33 to $52, and changing his rating from Neutral to Buy, he showed everyone where he stood on the matter.

With all of the chaos surrounding Twitter and Elon Musk, many have started to lose faith in Twitter stock—but Crockett is actually a lot more on the optimistic side of things.

He also had this to say on the topic: “We reviewed new, more detailed disclosures in Twitter’s lawsuit against Elon Musk, and our former skepticism about Twitter has been flipped.”

He went on to say that although he and his team had originally seen “meaningful risk” around Twitter, newfound skepticism over Musk’s claims has led him to change his mind on the topic. Ultimately, Crockett believes that Twitter will look better than Musk coming out of this case.

The post Tech Analyst Recommends Sticking With Twitter appeared first on theprimarymarket.com.

Wall Street Will Be Less Trusting

The primary reason that Musk backed out of the deal was reportedly due to a lack of transparency about the presence of bot accounts on Twitter. This may have a level of truth and it may not, but nevertheless, it’s going to affect the way Wall Street perceives Twitter. Musk has that level of sway.

This Entire Fiasco Will Have Long-Term Effects

When the world believed that Twitter was going to belong to Musk, the company was also going through major changes. A massive employee haul took place, and a new CEO emerged by the name of Parag Agrawal. Amid the changes, Musk’s new presence left people optimistic about the company’s new direction. But now that he’s on his way out, it feels like Twitter might be dead in the water.

The post Will Elon Musk’s Backout Affect Twitter’s Worth? appeared first on theprimarymarket.com.

According to Musk’s letter, Twitter “is in material breach of multiple provisions” of the deal and “has not complied with its contractual obligations.” Musk singled out the company’s refusal to give him data about fake and spam accounts and firing of “two key, high-ranking employees” and “a third of its talent acquisition team.”

Twitter, on the other hand, is unlikely to accept Musk’s withdrawal. The company’s chairman Bret Taylor already announced that the company remains committed to the deal and “plans to pursue legal action to enforce the merger agreement.”

This looks like just the beginning of the Musk vs. Twitter saga. The most likely scenario will be a long and messy legal battle that will see Musk trying to prove he pulled out of the deal fair and square while Twitter will try to make him complete it. There is a chance that the company will at least try to get its hands on the $1 billion break-up fee stated in the contract.

After the news broke out, Twitter shares plunged five percent in extended trading. The stock dipped as low as $34.04 before bouncing to $34.78. This marked its lowest point since May.

The post Elon Musk Pulls Out of Twitter Deal appeared first on theprimarymarket.com.