Of course, the Delaware Court of Chancery won’t view it in such simple terms. In reality, Musk faces an uphill struggle and could be on the hook for much more than the $1 billion break fee agreed to in the merger documents.
As of this morning, $TWTR shares are off another 5% in pre=market trading today. Tesla $TSLA, incidentally, is up again this morning after rising nearly 3% on Friday.
In other insider news, Director Jay F. Joliat revealed a purchase of approximately 20,200 shares, equivalent to $235,963, in the mid-cap oil and gas company Earthstone Energy $ESTE.
Here’s The Hot List, with data through July 8, 2022:
Over in Washington, there was some activity from Rep. Earl Blumenauer of Oregon, who reported a position in the French multinational healthcare company Sanofi $SNY.
Last but not least, there was bullish flow in Lucid Group $LCID, Western Digital Corporation $WDC, and Unum Group $UNM.
There was also bearish flow in the online pet retailer Chewy $CHWY.
Stay tuned. We'll be back Tuesday with more insider action.
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All Star Charts Team
