Rainmaker Securities has observed a recent uptick in buyer interest for shares of X, previously Twitter, contrasting sharply with last year's lack of activity. Glen Anderson, the firm's CEO, notes that inquiries have risen, with buyers willing to purchase at prices mirroring Elon Musk's 2022 acquisition. Despite this, secondary market trading remains complex, requiring intermediaries, and ongoing deals are still pending. With Fidelity valuing shares significantly lower, tangible transactions are yet to be finalized, emphasizing the challenge in these private sales lacking direct market accessibility.
"I wouldn't call it a flood, but there's been a decent volume of X orders coming in. There's a sense that the downside of the story is played out, and Elon is going to work his magic."
"There was nothing, literally zero, in all of 2024. Now, buyers have been interested in purchasing shares at around the same price Musk paid in 2022, $54.20-per-share at a $44 billion valuation."
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