(CercleFinance.com) – Twitter gained nearly 4% in New York, driven by an analysis by Wedbush which remains at ‘neutral’ but sharply raises its price target on the stock to set it at 50 dollars, after the announcement by Elon Musk to sell Tesla shares for $7 billion.
The broker reports that the billionaire justified this sale as a precautionary measure, aimed at avoiding an emergency sale of Tesla shares to be able to finance a takeover of Twitter in the event that he was forced to carry out this operation.
Now considering that a takeover of the microblogging platform by Elon Musk is more likely, Wedbush is raising its target on the title from 30 dollars (intrinsic value fundamentally speaking) to 50 dollars.
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