After Tesla and SpaceX CEO Elon Musk, which has been going on for weeks, announced that he gave up the deal to buy the social media platform Twitter, it is wondered how it will be reflected in the price of the meme coin DOGE. Elon Musk announced that he has withdrawn his $44 billion bid to buy Twitter, according to information in the file submitted to the Securities and Exchange Commission (SEC).
JUST IN: Elon Musk in a SEC filing says he terminated the $44 billion deal because Twitter “appears to have made false and misleading representations.”
— Watcher.Guru (@WatcherGuru) July 8, 2022
Tesla’s CEO stated that he wanted to buy the social platform in April and submitted an offer. He then shared multiple ideas about making changes within the platform and integrating the meme coin project Dogecoin (DOGE) into transactions. But his comments since then have triggered questions about his upcoming purchase, “will he really buy or give up.”
The questions were finally answered, and Musk announced that he was giving up on the purchase. Musk’s lawyers have warned the firm that the merger deal, which will allow Musk to buy all remaining shares and fully own the platform, will terminate.
Musk states that his tweets about the meme coin project Dogecoin (DOGE) often trigger a rise or fall in the price of DOGE. He is known to be a coin DOGE enthusiast. It is stated that Twitter closed the day with a 5 percent decrease in its stock price, just below $37, but decreased further to about $34 per share after-hours of trading.
