Stock Markets
Twitter stock prices today dropped due to scrutiny of Musk’s operations
Twitter stock prices today fell 16% in pre-market trading on the New York Stock Exchange, falling below $45.
The sell-off began after a report that the U.S. administration is considering inspecting some of Ilon Musk’s transactions and businesses for threats to national security. This was reported by Bloomberg, citing informed sources. According to them, checks may concern a deal on the purchase of the social network Twitter and space equipment manufacturer SpaceX.
Twitter stock news – what’s going on?
Sources told Bloomberg that they are discussing an inspection of Ilon Musk’s businesses, adding that officials in the U.S. government are considering tools that would allow the federal government to check Musk’s businesses.
One option being considered is screening Musk’s transactions and operations for national security risks by the Committee on Foreign Investment in the United States (CFIUS), agency sources said. This committee reviews acquisitions of U.S. businesses by foreign buyers, including deals that have already been completed.
CFIUS may review Musk’s $44 billion deal to buy the social networking site Twitter because foreign investors will be part of Musk’s consortium. The group of investors includes Prince Al-Waleed bin Talal of Saudi Arabia; Binance Holdings, a digital asset exchange founded and run by a native of China, and Qatar’s sovereign wealth fund.
A U.S. Treasury Department spokesperson told Bloomberg that CFIUS does not publicly comment on transactions that the committee may or may not review.
Earlier we reported that the largest European stock markets finished for the fourth session in a row.
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