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Musk's Twitter purchase is 'a done deal' -Wedbush analyst

Reuters Videos
Updated

STORY: The agreement puts the world's richest person in charge of one of the most influential media platforms and ends months of turbulent litigation that damaged Twitter's brand and fed Musk's reputation for erratic behavior.

Musk, the chief executive of electric car maker Tesla, will take over a company he originally committed to buying in April, but soon soured on.

Wedbush Securities analyst Dan Ives said the purchase "is a done deal" and that Musk and Twitter likely will not face off in court.

Twitter shares jumped 12.7% to $47.93 before trading was halted for the second time, while Tesla shares rose by about 1%.