The Clap
Greenlight Capital took a stake in Twitter last month following the conflict between Musk and the social media giant.
The Deets
According to Reuters, Greenlight had taken a stake in Twitter, paying an average of $37.24 for the stock.
According to Greenlight’s founder “At this price, there is a $17 per share of upside if TWTR prevails in court and we believe about $17 per share of downside if the deal breaks. So we are getting 50-50 odds on something that should happen 95%+ of the time.”
Greenlight’s founder also argues that the Delaware Court, the most prominent business court in the United States, has reason to force Musk to complete the purchase.
Background
Following the conflict between Musk and Twitter, a five-day trial is scheduled for October.
Greenlight Capital betting on Twitter 👀
