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Elon Musk posted the “Love Me Tender” tweet a few days after he created a poll about taking Twitter private.
During the weekend, Tesla and SpaceX CEO Elon Musk posted a suspicious tweet that reads “Love Me Tender,” which suggests that the billionaire was either listening to Elvis Presley or referring to his Twitter offer. While Musk may just be referring to a song, his Love Me Tender tweet may also indicate that the CEO is looking at submitting a tender offer to Twitter (NYSE: TWTR) shareholders to own the company.
Once again, Elon Musk was on the lips of many and made headlines last week when he offered to buy Twitter outrightly. His offer came shortly after revealing a 9.2% stake in the company. Now, the billionaire believes that Twitter needs to go private, emphasizing that the social networking service has the “potential to be the platform for free speech across the globe.”
Elon Musk Tweets ‘Love Me Tender’ Days After Asking if the Board Should Decide on Taking Twitter Private
As it is, the “Love Me Tender” tweet may indicate the latest saga in the ongoings between Elon Musk and Twitter.
Elon Musk posted the “Love Me Tender” tweet a few days after he created a poll about taking Twitter private. He asked if the decision for Twitter to become a private company should be up to shareholders or the board. While 83.5% of respondents voted that shareholders should be the decision-makers, 16.5% were of the opinion that the board should make the final decision. Elon Musk posted the Twitter poll result, revealing more than 2.8 million votes.
Many notable names reacted to the poll result, including American stockbroker Peter Schiff. Schiff believes that Elon Musk is only bluffing about his Twitter offer. The investor said the board should call the billionaire’s bluff by taking his offer. Also, he added that Elon Musk does not have the intention nor the cash to buy Twitter. He said he does not think the Twitter board will accept DOGE payment.
In Musk’s offer letter, the billionaire left no room for negotiation. He noted that was his best and final offer. He added that he might reconsider his shareholder position if his request is not accepted. He also cleared the air about rumors about his move to monopolize Twitter. He said his decision is not to make money, and Twitter’s algorithm should be open source. Furthermore, the billion plans to include an edit button on Twitter. However, he said the edit feature would only be available for a limited time once a tweet goes live.
Twitter Stock Performance
At after-hours trading, TWTR stock is up 0.72% to $48.80. Apart from dropping nearly 31% over the past year, Twitter has increased steadily. While the company has jumped more than 12% since the year started, it has also surged more than 26% in the last three months. TWTR has advanced 28.28% over the past month and an additional 4.80% in the last five days.