Wedbush says loads driving on testimony of Agrawal, Musk as October 17 courtroom information looms

On October 17, the courtroom battle between Twitter (NYSE:TWTR) and Elon Musk will begin and the destiny of the social community is determined within the Delaware Courtroom of Chancery. And funding agency Wedbush Securities factors out that the testimonies from Twitter (TWTR) Chief Government Parag Agrawal and Musk shall be essential moments through the five-day trial.

“There’s a lot driving on the testimony on every particular person mixed with the Zatko wild card which stays one other key variable on this upcoming trial,” analyst Dan Ives wrote in a be aware to shoppers.

On Monday, the depositions of Agrawal and Musk had been each postponed.

Ives continued to pound the desk on the assumption that Twitter (TWTR) shares will commerce on deal odds because the courtroom battle will get set for subsequent month.

Among the many 4 eventualities Ives has beforehand known as out, the 2 with the very best probability of occurring are:

• “Particular efficiency” is upheld by the courtroom and Musk wants to purchase Twitter for $44B.
• Or Musk must settle, with important damages within the vary of $5B to $10B going into Twitter’s (TWTR) coffers.

“We proceed to imagine a possible state of affairs is Musk nonetheless shopping for Twitter at a decrease renegotiated worth within the $50 vary and taking a brutal Sport of Thrones battle in Delaware for each side off the desk earlier than it kicks off,” Ives wrote.

The analyst added that when the trial begins, it is believed that Musk is “a weak authorized place” to defend his place in abandoning the deal.

Final week, Wells Fargo turned extra satisfied of a profitable Twitter-Musk sale after feedback from an professional.