TWTR stock was trading downwards at $50.81 as of 11:54 AM EDT.
Elon Musk would likely continue to devote the majority of his time and attention to businesses like Tesla and SpaceX, according to Loup Ventures analyst Gene Munster’s prediction made on Wednesday, even as he decides to move forward with his $44B proposal to acquire social media behemoth Twitter (NYSE:TWTR).
Speaking to CNBC, Munster argued that Musk will be forced to make difficult decisions on where to focus his attention once the TWTR transaction closes and that the billionaire will probably focus elsewhere. Speaking to CNBC, Munster argued that Musk would be forced to make “His spending a significant amount of time on Twitter seems less realistic, in my opinion. He had to put up a good front today, but it’s obvious he doesn’t want this resource, “Declared Munster. “His spending a significant amount of time on Twitter seems less realistic, in my opinion. He had to put up a good front today, but it’s obvious he doesn’t want this resource, “Declared Munster.
Munster recognized that Musk, even if he takes a more hands-off approach to the business, may boost the value at Twitter by assembling a good management team. However, the analyst argued that Musk’s personal involvement would be crucial in deciding TWTR’s future value, claiming that the “central question” regarding the future of the social media platform will revolve around how much time the billionaire can devote to the business.
Since the value ultimately depends on the amount of time invested, he claimed that it is impossible to anticipate what it will be worth. “24-hour days apply to everyone, including Elon Musk.”
TWTR stock forecast
Munster made his remarks in response to news on Tuesday that Musk had opted to reaffirm his interest in TWTR following an unsuccessful attempt to back out of a previous agreement to purchase the business at a price of $54.20 per share. TWTR stock initially rose by 22% as a result of the revelation.
Featured Image – Unsplash © rswebsols