Twitter’s 9.7% drop in Friday’s trading delivered a $ 138.8 million boost in market-to-market profits for small retailers, bringing the potential return for the month to $ 264.4 million, according to S3 partners.
Musk sent a tweet on Friday saying his 44 44 billion had been “temporarily withheld” before quickly maintaining that he was “still committed” to the deal. The pair of messages sent Twitter shares to Tailspin with a gap between its $ 54.20 offer price and the stock’s trading volume is the largest since the injury.
As the spread began to rise, nearly 1.32 million shares, valued at $ 60 million, were shortened last week, according to Ihor Dusaniuski, managing director of S3 Partners Predictive Analysis, who called the short-sellers base “revived.” However, overall, Twitter shorts are still down for the year, losing about $ 69 million, he said via email.
About 5% of the Twitter shares available for trading are currently short-selling, valued at about $ 1.43 billion, according to firm data.
“Twitter’s price volatility due to Elon Musk’s offers and tweets has made both the long and short term aspects of this trade extremely volatile and the profits and losses have been increasing day by day,” Dusaniuski wrote.
– With the help of Ekin Shen.