Twitter Acquisition “On Hold”

The stock market is having a big counter-trend rally today. That means that all the stuff that had been doing poorly is doing well, and the stuff that had been doing well is not having a good day. The S&P 500 is up more than 2% as I write this.
Shares of Twitter are down sharply after Elon Musk tweeted that his takeover of Twitter is temporarily on hold due to concerns over spam. The stock has been as low as $40.01 today. Remember, the buyout price is $54.20 per share.

In an interview yesterday, Jerome Powell said that two 0.5% hikes are likely:

“If the economy performs about as expected,” Powell said, “it would be appropriate for there to be additional 50-basis point increases at the next two meetings.”

Powell was also confirmed by the U.S. for another four-year term as Fed Chairman.

Posted by on May 13th, 2022 at 11:23 am


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