Twitter (TWTR) whistleblower: Twitter shareholders approve Elon's deal amid whistleblower claims
Elon Musk and Twitter are back in the news, nearly three weeks after making headlines in late August. Despite all the news, Twitter's share price has fallen 5.84% in the last month. In 2022, Twitter shares fell nearly 2%. We will look at the recent developments in the company and target the share price for the company's shares.
Twitter shareholders approve Musk's $44 deal
- Twitter shareholders voted to approve Elon Musk's $44 billion takeover bid.
- However, Musk has already called off the deal, but they have to fight a court battle to get out of the deal.
- Musk has said that the testimony of the Twitter whistleblower justifies his termination of the $44 billion deal to buy the micro-blogging platform.
- With the required votes, Twitter can continue with an intended lawsuit to make Musk close the acquisition.
- The legal battle is expected to start in the mid-Oct this year. However, Musk is trying to buy more time from the court and push the week-long trial to late November.
Elon Musk seeks Twitter's CEO's help
In his recent tweet, Musk claimed that his tweets are being suppressed. He tagged both Twitter and its Chief Executive Officer, Parag Agarwal, and asked them to fix the issue. The tweet gained thousands of likes and has been retweeted by many.
Twitter's former head of security says the firm is misleading the public
- Twitter's former head of security, Peiter Zatko, has told US lawmakers the firm is "misleading the public" about how secure the platform really is.
- Zatko said that Twitter was a decade behind in security standards, that users' data is not sufficiently protected and that too many staff have access to it.
- He had previously supported Elon Musk's claim that the platform has more spam and fake accounts than it has admitted. He has also said that Twitter's executives don't have the resources to fully understand the true bots' accounts on the platform and were not motivated to do so.
Twitter Share target price: Analysts' call
Based on street analysts, the average price target is $40.49 with a high forecast of $54.20 and a low forecast of $22.00.
Did Elon Musk buy Twitter?
Elon has backed out of his $44 billion Twitter deal as the platform has more spam & fake accounts that earlier declared.
When is hearing of the Musk-Twitter battle?
The trial between Elon and Twitter is scheduled to begin Oct. 17 in Delaware Chancery Court.
What is the target price for twitter?
Based on street analysts, the average price target is $40.49 with a high forecast of $54.20 and a low forecast of $22.00.
Did Twitter shareholders approve Musk's buyout?
Almost all of Twitter's shareholders have voted to approve Twitter's deal with Tesla CEO Elon Musk.
Is Twitter stock a good buy?
Based on 41 Wall Street analysts offering stock ratings for Twitter, only 8% recommend Buy while 78% recommend Hold and rest 12% recommend sell.