Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

  • Voroxpete@sh.itjust.works
    3·
    3 months ago

    Oh, I’m not implying that it was ever valued correctly. I’m saying that it’s gone from “overvalued” to “exceedingly overvalued”.