Twitter shares are still below Musk’s offer price for the company. Should you buy it cheaper now and make a tidy profit? Proceed with caution, experts say.
Now that Elon Musk has a deal to buy Twitter and take it private, some retail stock pickers might be eyeing a quick buying opportunity in the social-media company before it leaves the public markets. If the ultimate resting spot for Twitter’s stock is going to be $54.20 under Musk’s deal with Twitter, and the stock is currently near $50/share, doesn’t that pave the way to profit for someone who purchases a couple more shares before the closing? Twitter had a bumpy ride last week and, on Monday, shares were up nearly 1% but still languishing at $49.46, below Musk’s offer price; on Monday, the Dow Jones Industrial Average S&P 500 and Nasdaq Composite were all lower as investors weighed earnings reports and potential recession worries.