Twitter torched over Musk debacle: A 'garbage company' with a 'dismal future'
Elon Musk may take a second look at buying Twitter after shares sink, market expert says
Circle Squared Alternative Investments' Jeff Sica slammed "garbage company" Twitter as they plan to sue Elon Musk for walking away from the company's acquisition, arguing the tech giant has a "very dismal future" during an interview on "Varney & Co." Monday.
JEFF SICA: The billion dollars that they [Twitter] may force him to pay, to Elon Musk… he probably spends that on gum and candy every year. So it's not a big amount of money for him being worth what he's worth. But I think the stock will decline. I think for a company, and I've always said a garbage company, they have very little ability to make money. They have a very dismal future.
TWITTER VS. MUSK:WHO IS LYING IN BATTLE OVER SOCIAL MEDIA COMPANY'S FUTURE?
I think the stock is going to be driven down into the low 20s and then maybe in the low 20s, he [Elon Musk] may reemerge and decide, you know what, the price is better. $44 billion. I thought that was ludicrous. And now maybe if it's $20 billion, maybe you could justify it... And again, I love the free speech initiative. I love the fact that he [Elon Musk] was doing this. I called it a baller move, and it was a baller move. Now if he's going to buy it, he's going to buy it on his terms.