"The last publicly available figures prior to Musk's acquisition, from Q2 of 2022, had revenue at $661 million. After you account for inflation, revenue has actually collapsed by 84%, in today's dollars."
"I would be expecting something between $1 and $2 billion in stock [sold by Musk]," said Bradford Ferguson, president and chief investment officer of asset manager Halter Ferguson Financial. This alone could cause the stock to lose between 5% and 10% of its value.
Musk famously telling potential advertisers to 'Go f- themselves' certainly didn't help [X/Twitter's revenue collapse]. The social media app has also seen a rise in hate speech since he purchased the company.
Musk previously stated that X/Twitter could face bankruptcy due to what he calls an advertising 'boycott,' which is actually just companies exercising their rights in the free market."
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