Since Elon Musk’s Twitter purchase, firm reportedly lost 72% of its value
Fidelity cuts value of X stake, implying 72% drop since Musk paid $44 billion.
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If the company's private, which means its stocks are not tradeable anymore, what's the point in measuring the company value at this point?
Meh, the Saudi's are covering his losses, that's the deal.
What do the Saudis gain from this?
The end of the weapon that brought on the Arab Spring. They hate Twitter with the power of a thousand suns.
Banks who loaned Elon money hold a bunch of Twitter stock. They want to eventually cash out.
Can these measurements be used as losses to offset taxes?
Typically, losses in one year can be used to offset profits in following years, but not indefinitely... maybe three years tops IIRC. But that would mean the company would have to become very, very profitable profitable, which is doubtful.
They changed the rules under the Tax Cut and Jobs Act and losses can be carried forward indefinitely.
Yup of course they fucking did. Can't have corporations paying their fair shares after all, that's a concept as ridiculous as cold fire.
TIL, thanks
Regulatory capture is awesome, isn't it?
Because the money still comes from investors even if it's not publicly traded.
