Elon Musk's latest move to buy a 9.2% stake in Twitter and later accepting a position on the board before backing out is causing quite the stir on Wall Street.
Analysts believe Elon Musk’s purchase of Twitter is a sign to investors that it’s time to ditch the stock, with analysts such as Mark Kelley downgrading Twitter's stock to a sell from a hold rating, calling the move from Musk a “full blown Elon circus”
The Tesla CEO offered to buy out the social media company for $54.20 per share, sending the stock up roughly 3.6% on Thursday morning to around $47.50 per share. However, some believe Musk's "best and final offer" may not be enough, and that he may need to pay more for Twitter than he’s willing to.
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