Elon Musk — The Man Who Moves Markets

A Pretty Tweet Deal

After months of back and forth, the South African multi-billionaire finally has his hands on the prize, purchasing Twitter for $44bn last week. On doing so, he immediately took up the post of CEO.

Bye Bye NYSE

The deal also ended Twitter’s 9-year run on the New York Stock Exchange, as of 28 October 2022, the company is no longer publicly traded. This now clears the way for Musk and his new management team to make whatever changes they like, without being concerned about shareholder opinions.

3 Times Elon Musk Has Moved Markets

Let’s be honest, this guy has influenced the market way more than a handful of times(!), here are just five.

#1 That’s Gotta Hertz!

In 2021, Musk hinted that Hertz Global Holdings’ deal to buy 100,000 Teslas for its rental car fleet wasn’t quite over the line, downplaying the $4.2bn agreement. Tesla’s stock price then dropped by 3% the following day.

#2 Yo-yo-ing with Bitcoin

Musk’s relationship with bitcoin has been a complicated one. Fortunately (or not) for all of us, it’s also been very public. The bitcoin price chart below says it all really…

#3 Agreeing to buy Twitter, sending Tesla spiraling

This one seems quite funny now. But when Elon first stated that he felt that Twitter wasn’t achieving its potential he slapped in his bid to buy it earlier this year.

What do you think?

Do you remember any other times Elon made waves in the markets? What’s your most/least favourite? Let us know what you think and why by tweeting us at @_contentworks.

Top fundamental events week commencing 07.11.22

The markets look pretty quiet this week. Here are all the events to look out for.

Monday

No major events are planned.

Tuesday

● AUD — Westpac Consumer Confidence Index (NOV)

Wednesday

● CNY — Inflation Rate YoY (OCT)

Thursday

● CNY — New Yuan Loans (OCT)

Friday

● EUR — Inflation Rate YoY Final (OCT)

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