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1992 Constitution: Indemnity clause, Ex-gratia, etc... Do we still need these?
Tesla shareholders aren’t too happy with the new Twitter Complaint Hotline Operator, an Uber whistleblower says the company can’t last much longer, and Polestar is still raking in funding. All that and more in The Morning Shift for Thursday, November 3, 2022.
Elon Musk owns Twitter now, and the company has already seen its income sources start to dry up under his management. But it’s Musk’s other company, Tesla, that seems to be taking the biggest hit. Its share price collapsed when the Twitter deal was first announced, and shows no signs of recovering any time soon. From Bloomberg:
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The phrase “Twitter overhang” was inescapable among Elon Musk’s biggest fans on the social media platform he started pursuing seven months ago.
Tesla shares fell into a funk after Musk took a stake in Twitter, agreed to buy it and then tried to wiggle out of the deal. Bulls theorized that the stock would recover once the saga was over. Some even celebrated when the deal closed last week by selling merch with the words “Twitter Overhang Lifted” and an arrow pointing to the moon.
Tesla shares didn’t react much after Musk clinched the acquisition, then took a whack along with much of the market Wednesday, when Federal Reserve Chairman Jerome Powell said the central bank will keep raising interest rates to tame inflation. The stock is now trading below where it was when the Twitter deal closed, and monetary...
1992 Constitution: Indemnity clause, Ex-gratia, etc... Do we still need these?