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Twitter Stock Inched Upward in Response to Reports That Musk Would Address Workers on Friday

Twitter Stock (NYSE:TWTR)

Alongside headlines from Bloomberg stating that billionaire and presumed buyer Elon Musk is set to address the company’s staff on Friday – the deadline day for him to close his $44 billion acquisition of the communications platform – Twitter (NYSE:TWTR) is ticking up slightly again, now +0.9%. This comes on the heels of headlines from Bloomberg stating that Musk is set to address the staff on Friday. Due to this, Twitter stock soared in the midday trading session.

After attentive private-jet monitors saw that Musk’s aircraft was going to California, rumors are circulating that he is spending this week at the offices of Twitter.

According to a staff letter quoted by Bloomberg, Musk’s meetings with the firm are now anticipated to be the “first of many” in the future.

Musk has updated the information on his Twitter profile such that it now reads “Chief Twit,” and he has set his address to “Twitter HQ.”

The most recent price increase at Twitter brings the price gap between the two deals even closer together. Currently, the Twitter stock is trading at $53.23, which is just 1.8% lower than Musk’s transaction price of $54.20 per share.

Musk is responsible for raising the required $33 billion to finance the equity part. It is anticipated that most of this will come from Tesla stock, which, despite the possibility of selling pressure, is now on track to post gains for a second consecutive trading day. It was apparently communicated to both Musk’s debt and equity partners in the transaction on Tuesday that they should be ready for the deal’s conclusion on Friday.

Featured Image-  Unsplash @ Alexander Shatov

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