Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over
Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over
Elon Musk said over the weekend that Twitter's advertising revenue has fallen by 50% since he bought the company, and that it's not cash flow positive.
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The real question in my mind, is will the investment markets punish Musk as a result of such an epic demonstration of business incompetence. For whatever reason they haven’t done that so far.
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Musk is the CEO of a publicly traded company (Tesla) and the CEO of a company that just recently sold shares on the secondary market (SpaceX). The valuation of these companies is wrapped up in market sentiment about Elon Musk.
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The valuation of those companies should be wrapped up in their performance, financials, and future outlook.
Yeahhhhh, about that...