Twitter's Share Price is Back to Where it Started Before Musk's Bid – Newsweek

As the Twitter-Elon Musk battle heads to court next month, the social media company is back where it started – with a share price of around $38, valuing it at around $30 billion.The battle to own Twitter—or more accurately, to not own Twitter—will culminate in a courtroom on October 17 in Delaware, and the trial is expected to run for five days. Tesla boss Musk is trying to avoid being compelled to complete his $44 billion offer for Twitter, claiming that the company has too many fake accounts. According to the initial terms of the deal, Musk needs to pay $1 billion to get out of the contract.Twitter’s lawsuit claims that “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests… Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”In a response to the Securities and Exchange Commission, Musk’s legal team says that “In short, Twitter has not provided information that Mr. Musk has requested for nearly two months” regarding spam and fake…
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