Michael Burry defended short sellers in a tweet that appeared to address Elon Musk’s delicate position of funding his buyout of Twitter Inc. using some of his Tesla Inc. stake.
Musk is buying Twitter for $44 billion, partly funding the purchase with a $12.5 billion margin loan secured by Tesla shares. If the electric carmaker’s stock falls below $740, which it last did for a brief moment on Feb. 24, Musk may not have enough to cover the full loan, according to Bloomberg calculations. Musk may also need to sell Tesla shares to cover a $21 billion equity commitment he’s made for the purchase.
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April 27, 2022 at 10:25PM
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Michael Burry Takes Dig at Musk as Short-Seller Battle Heats Up - Bloomberg
"Short" - Google News
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