Twitter Shares Still Reflect Hope Deal With Musk Gets Done

Twitter Inc. has been put through the wringer by Elon Musk over the past few months. But some investors are still holding onto the stock in hopes that the deal debacle will end favorably.

While Twitter plunged further below Musk’s $54.20 bid this week after the billionaire said he wants out of the deal, the shares are still pricing in the possibility that the two sides can agree on a transaction at a lower price. Analysts at MKM Partners said Monday the stock could fall as low as $24 if investors conclude the acquisition won’t happen at all. That would imply a further 30% drop from Tuesday’s $34.06 close.