Hindenburg Research closes Twitter short position
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Noted short seller Hindenburg Research said it closed its short position in Twitter (NYSE:TWTR).
Hindenburg head Nate Anderson tweeted that the short position was closed. Twitter shares ticked down 1% after falling 5% on Monday.
Hindenburg, well known for its short call on Nikola (NKLA), last Monday said it put on a short position on Twitter and argued that the Elon Musk takeover will likely be repriced lower. Hindenburg said Twitter shares may potentially fall to $31.40/share without a Musk deal.
Hindenburg's closing of the short position comes after Musk on Monday said a viable deal for the social-media company is "not out of the question" at a lower price. Twitter earlier Tuesday said it's committed to agreed price in deal with Elon Musk.
Hindenburg also highlighted last week that Twitter (TWTR) reported weak 1Q results and disclosed it had "overstated" users just days after accepting Musk's bid. The report also said that the "overpriced" Twitter deal is placing "undue pressure" on Tesla (TSLA) due to the equity sales and the prospect of more margin debt."
Earlier Wedbush analyst Dan Ives said Twitter is in a tough spot and there's a 60% chance Elon Musk walks away from deal.