Ever since Twitter (TWTR) – Get Twitter, Inc. Report accepted Tesla (TSLA) – Get Tesla Inc Report and SpaceX Chief Executive Elon Musk’s provide to purchase it, Musk’s tweets about Twitter and social media have turn into extra frequent.
The world’s richest man has at all times been an avid consumer of Twitter and his digital soiree, now with over 86.6 million followers, continues to hold on his each phrase.
While the official Musk/Twitter settlement nonetheless faces hurdles, it’s evident that Twitter continues to dominate Musk’s ideas, and his thoughts is at work on his most up-to-date $44 billion buy.
Musk now faces a slew of recent financing points, as Tesla’s worth has skidded as a lot as 12% decrease, and traders within the electrical automobile firm fret about utilizing its shares as collateral for the deal.
Twitter, too, has had a rocky few days out there, closing at $48.64 on April 27, a drop in valuation that could be a far cry from the $54.20 per share provide that Musk has made.
In the meantime, Musk has continued to tweet about Twitter regardless of a clause within the deal’s phrases that he not “disparage [Twitter] or any of its Representatives.”
Musk also jumped into a conversation between users who criticized Twitter for what they said was censoring a story published by the New York Post about Hunter Biden’s laptop.
“Suspending the Twitter account of a major news organization for publishing a truthful story was obviously incredibly inappropriate,” Musk tweeted.
If the deal falls by way of, Musk is on the hook for $1 billion in a damaged contract price, and Twitter may go purchasing for different suitors.
You can learn extra about who else might want to buy Twitter here.
One person who says they won’t be on any new version of Twitter?
Former President Donald Trump, who said April 25 that he will be sticking to his own Twitter alternative, Truth Social.
Will a Twitter Deal Save Trump’s Platform?
Trump launched his own social media venture via a special purpose acquisition company, Digital World Acquisition Corp (DWAC), that went public in October 2021.
Investors who backed Trump’s DWAC may now be breathing a sigh of relief, with the tech company’s stock leaping dramatically on April 27.
That climb adopted a large spike within the variety of customers downloading the app.
Shares of DWAC rose a maximum of 28% at its peak on Wednesday and eventually closed the trading day 9.19% higher at $44.55.
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The stock’s performance has been volatile lately and its value has dropped by 60% in the last two months.
In a series of tweets, Musk apparently took notice, tweeting about Trump’s social media app, Truth Social.
Trump founded the platform as a Twitter alternative after he suspended from his account for violating usage guidelines during the Jan. 6 riot at the U.S. Capitol.
Truth Social Tops Apple’s App Store
The Twitter deal has apparently given that venture new life.
Musk wrote, “Truth Social is at the moment beating Twitter & TikTok on Apple retailer,” along with a screenshot of the rankings, in which Twitter took the number two spot and Chinese rival TikTok ranked third.
Musk later advised the title “Trumpet” for Truth Social.
Backers of Trump’s social media model have had a rocky trip.
Since April 4, the day Musk first revealed a virtually 10% stake in Twitter, Digital World Acquisition’s worth has plummeted 44%.
But for now, users are either remembering Trump’s app is out there, or have learned about it via Trump’s comments on the Twitter deal.
Downloads for Trump’s version of Twitter crossed 55,000 on April 26, a day after the biggest tech deal between Musk and Twitter was announced.
The number of daily active users on Truth Social increased to 365,000 on April 26, 20% higher than the week ended April 22.
Key executives have left Trump’s SPAC after Musk’s involvement with Twitter became public knowledge, and the digital media firm has faced problems with logins and user interface at large.
When compiling rankings both Google Play and Apple’s (AAPL) – Get Apple Inc. Report App Store make the most of app rankings and consumer critiques along with variety of downloads amongst different elements.
Calls to boycott and depart Twitter have been trending throughout social media since Musk’s deal announcement April 25.
The knowledge above relies on Apptopia’s estimates cited by Bloomberg.