Twitter (TWTR.US) stock jumped 5.0% in premarket after a new U.S. Securities and Exchange Commission (SEC) filing revealed that Elon Musk plans to front $33.5 billion in his bid to take over Twitter. Tesla CEO revealed that he would seek US$13 billion in loans for the Twitter buy instead of using nearly double that much debt as previously indicated.Musk previously indicated he would front $27.25 billion to buy the social media giant as part of a $44 billion deal. The Tesla and SpaceX head no longer plans to rely on a margin loan backed by shares in the electric-car maker, according to a report from the Wall Street Journal. Musk also continues to have discussions with former Twitter CEO Jack Dorsey and others to help finance the deal or roll their shares over, according to CNBC.
Twitter (TWTR.US) stock fell sharply in May after Musk decided to put the deal “on hold” due to uncertainties regarding the proportion of fake and spam accounts on the platform. Following recent news buyers become more active and price is approaching local resistance at $40,00 which is marked with 23.6% Fibonacci retracement of the last downward wave. Source: xStation5
