FOX Business takes a deep dive into the latest developments of Elon Musk's battle with Twitter and what investors and analysts are forecasting.
JMP Securities equity research analyst Andrew Boone and T3 Trading CSO Scott Redler analyze the billionaire entrepreneur's bid for the social media giant on 'The Claman Countdown.'
"I don’t think Twitter should be a private company. I think that Elon should be on the board. It would’ve been better if he bought 14%, so he could’ve shaken the tree," Redler told "The Claman Countdown" on Thursday. "I think that the company could be run better. I think the features could be more updated. I think they could get more users. They could make more money. And that’s what Elon was trying to do somewhat.
"But now with this $54 bid, it just wasn’t enough, and now it's turning into a little bit of a mishmash where the market doesn’t believe it, the board doesn’t know what to do, and he might come in higher even though he said best and final, which is never really best and final," Redler adds. "So he’s created a precarious situation where it's going be interesting to see how it all falls out.
"We believe the shares have significantly greater upside if management is able to execute on its plan to innovate on product, grow the user base ~20%, and build out direct response advertising," Anmuth said in a note on Thursday. "Accordingly, we do not expect the offer to be accepted by the board."Meanwhile, Stifel analyst Mark Kelley believes the bid "sets a near-term ceiling on shares, detaches the company from fundamentals, and offers significant downside risk if Mr.
"In our view, this could be a positive outcome given TWTR would likely prefer a consortium of investors rather than be controlled by a single large owner," Jeffries analyst Brent Thill told clients Thursday.
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