Shares

Twitter gaps down as Musk accuses the company of breach of contract

Russell Shor Written by Russell Shor

Twitter (TWTR.us) stock gapped down today in premarket trade, following Elon Musk doubling down on his request for spam information for the social media platform. Musk regards the lack of factual information as a breach of contract. Accordingly, his representative sent a letter to Twitter management and filed it with the SEC.

Musk has agreed to buy TWTR.us for $54.20 per share, a significant 30% premium over the company's current price. This excess raises speculation that Musk may be looking to exit the deal.

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Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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