HomeEntrepreneursWill Elon Musk's Backout Affect Twitter's Worth?

Will Elon Musk’s Backout Affect Twitter’s Worth?

The finance and tech world has been reeling slowly ever since billionaire tech mogul Elon Musk decided to back out of his deal to buy Twitter. This is, of course, months after he shocked the world initially when he decided to buy the platform. But now that he’s backed out, experts are suggesting that this could have dire consequences for the state of Twitter’s stock value. But is there merit to such claims?

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.

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