He's the head of Tesla (NASDAQ: TSLA) , the largest electric vehicle maker in the world, but Elon Musk has made headlines recently for a different reason. He's an avid user of short-form social media platform, Twitter (NYSE: TWTR) , and in April he made a blockbuster bid of $54.20 per share to buy the entire company, worth $44 billion.
But the deal is seemingly falling apart. The broader tech market sell-off has in-part sent Twitter shares plunging to $38 as of this writing, and it has also crushed Tesla stock, which is where most of Musk's net worth is tied up. And despite having a signed contract, the two parties have been exchanging words after Musk accused Twitter of understating the number of bots and fake accounts on its platform.
But there might be an even greater challenge ahead of Musk if he successfully closes the deal: Twitter's financial performance. Based on its recent results, the company is in danger of falling short of its ambitious 2023 targets. Was Musk's offer to buy Twitter a little too enthusiastic?
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Twitter Stock: The 1 Huge Challenge Elon Musk Faces