The New York Stock Exchange began the process Friday to delist Twitter.
Wedbush analyst Dan Ives estimated that Musk and his investors overpaid. Even Musk has said the $44 billion price tag for Twitter was too high but that the company had great potential.
On Wednesday, he strolled into the company’s San Francisco headquarters carrying a porcelain sink, changed his Twitter profile to “Chief Twit,” and“Entering Twitter HQ — let that sink in!” Then on Thursday, he tweeted, “the bird is freed,” a reference to Twitter’s logo. Musk has previously expressed distaste for advertising and Twitter’s dependence on it, suggesting more emphasis on other business models such as paid subscriptions that won’t allow big corporations to dictate policy on how social media operates. But on Thursday, he assured advertisers he wants Twitter to be “the most respected advertising platform in the world.”
“You do not want a place where consumers just simply are bombarded with things they do not want to hear about, and the platform takes no responsibility,” Yildirim said.
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