Twitter shares fell below $34 in early trading, far below the $54.20 that Musk agreed to pay, suggesting few investors believe the deal will go through.
Elon Musk wants to terminate his $44 billion deal to buy Twitter, saying the social media giant is "in material breach of multiple provisions."
Given current market conditions, Mogharabi said, Twitter may also have a solid argument that the layoffs and firings of the past weeks represent"an ordinary course of business." Tech industry analysts say Musk's interlude leaves behind a more vulnerable company with demoralized employees.
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