Kiwi investors on Stake await Musk’s money after Twitter transaction

Elon Musk completed his troubled takeover of Twitter last week. (Photo: Getty)

Mon, 31 Oct 2022

Elon Musk completed his US$44 billion (NZ$74.9b) acquisition of Twitter on Friday afternoon, potentially saving investors in the social media company as much as US$20b in losses.Since the start of 2022, social media stocks have rapidly declined in value. Both Snap and Meta, which owns Facebook and Instagram, have dropped more than 70%.But Twitter has been insulated from this collapse by Musk’s takeover offer, at US$54.20 per share, which has pushed the stock up more than 25%.Had Twitter tracked other social media stocks lower throughout t...

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