5 Market-Moving Stocks to Watch on Monday

3. Twitter, Inc. (NASDAQ:TWTR) has slipped 1.92% as of 12:58 PM ET after Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk said that the microblogging and social media platform had breached the terms of the acquisition agreement by declining to provide additional information about the spam accounts. The richest man in the world had agreed to buy Twitter, Inc. (NASDAQ:TWTR) for $54.20 per share, but he has been skeptical about this valuation following the start of the fake account saga. Dan Ives at Wedbush thinks that Musk is creating the ground to abandon the deal without having to pay the $1 billion breakup fee. In case of a material breach, Musk would not be obligated to pay any fee.

Here’s what ClearBridge Investments said about Twitter, Inc. (NASDAQ:TWTR) in its Q4 2021 investor letter:

“Weakness among our holdings in the communication services sector was the other detractor to performance. Twitter shares sold off following weaker than expected third-quarter results, but under new leadership, we see the potential for improved execution and performance as live events and entertainment return to pre-pandemic levels.”

Twitter, Inc. (NASDAQ:TWTR) was held by 68 hedge funds as of Q1 2022.