Circle Squared Alternative Investments’ Jeff Sica slammed “garbage company” Twitter as they plan to sue Elon Musk for walking away from the company’s acquisition, arguing the tech giant has a “very dismal future” during an interview on “Varney & Co.” Monday.
JEFF SICA: The billion dollars that they [Twitter] may force him to pay, to Elon Musk… he probably spends that on gum and candy every year. So it’s not a big amount of money for him being worth what he’s worth. But I think the stock will decline. I think for a company, and I’ve always said a garbage company, they have very little ability to make money. They have a very dismal future.
I think the stock is going to be driven down into the low 20s and then maybe in the low 20s, he [Elon Musk] may reemerge and decide, you know what, the price is better. $44 billion. I thought that was ludicrous. And now maybe if it’s $20 billion, maybe you could justify it… And again, I love the free speech initiative. I love the fact that he [Elon Musk] was doing this. I called it a baller move, and it was a baller move. Now if he’s going to buy it, he’s going to buy it on his terms.