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April 14, 2022, 9:34 a.m. EDT

Top Social Media Penny Stocks To Watch After Elon's Twitter Buyout Offer

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Apr 14, 2022 (Penny Stocks via COMTEX) -- Who said Elon Musk was a one-trick pony? He's got Tesla ( NASDAQ: TSLA ), Neuralink, SpaceX, and now…Twitter ( NYSE: TWTR )? Usually, when we talk about "Elon Musk sympathy trades," we're talking about renewable energy or electric vehicle penny stocks . Today, however, Musk's latest move could be a bright spot on social media stocks.

Musk made major headlines earlier this month when it was reported that he purchased more than 9% of Twitter stock . Speculation began building around his intent. Would he become an activist? Was this his move to help put him in the good graces of the platform, or was it something else? This week, Musk has done it again, and TWTR stock has reacted.

It was a simple Tweet in true Elon fashion:

The specifics of the filing : "On April 13, 2022, the Reporting Person delivered a letter to the Issuer (the "Letter") which contained a non-binding proposal (the "Proposal") to acquire all of the outstanding Common Stock of the Issuer not owned by the Reporting Person for all cash consideration valuing the Common Stock at $54.20 per share (the "Proposed Transaction"). This represents a 54% premium over the closing price of the Common Stock on January 28, 2022, the trading day before the Reporting Person began investing in the Issuer, and a 38% premium over the closing price of the Common Stock on April 1, 2022, the trading day before the Reporting Person's investment in the Issuer was publicly announced."

Hot Penny Stocks to Watch In the Second Half of April

Will Elon Musk Buy Twitter?

Something that has become a trend for Musk is his stance on free speech. Several Tweets from the Tesla CEO highlighted contention for media. He also discussed how "top" Twitter accounts were rarely used anymore. Musk also tweeted out the question, "Is Twitter Dying?"

Time will tell whether or not this is actually the case. But it doesn't negate that Elon is going after a buyout of Twitter. A deeper dive into the specifics of the filing reveals Musk went as far as voice messaging, text, and a formal letter to lay out his ideal terms:

As I indicated this weekend, I believe that the company should be private to go through the changes that need to be made.

After the past several days of thinking this over, I have decided I want to acquire the company and take it private.

I am going to send you an offer letter tonight, it will be public in the morning.

Are you available to chat?

  1. Best and Final:
    a. I am not playing the back-and-forth game.
    b. I have moved straight to the end.
    c. It's a high price and your shareholders will love it.
    d. If the deal doesn't work, given that I don't have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder.
    i. This is not a threat, it's simply not a good investment without the changes that need to be made.
    ii. And those changes won't happen without taking the company private.

  2. My advisors and my team are available after you get the letter to answer any questions
    a. There will be more detail in our public filings. After you receive the letter and review the public filings, your team can call my family office with any questions.

Bret Taylor

Chairman of the Board,

I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.

However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.

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