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Benzinga
Benzinga
Business
Rachit Vats

Elon Musk Getting 'Cold Feet' On Twitter Deal? Analyst Says Bots Issue An Excuse To Lower Price Or Walk Away

Elon Musk Dan Ives Nasdaq NYSE Tesla Inc. Twitter Inc.

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk is likely using the bots issue as a scapegoat to walk away from his $44 billion deal to buy Twitter Inc (NYSE: TWTR) or negotiate a lower price, according to Wedbush Securities analyst Dan Ives.

What Happened: "A changing stock market/risk environment the last month, and a number of other financing factors have caused Musk to get "cold feet" on the Twitter deal, with the bot issue not a new [one] and likely more of a scapegoat to push for a lower price," Ives wrote in a note.

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