Elon Musk stated that he and other investors are “obviously paying” for Twitter Inc.
Tesla Inc. Chief Executive Officer said that he was “excited” about Twitter’s situation, describing it as an asset that “sort of languished for quite a while but has “incredible potential.”
Musk stated that the company’s long-term potential was “order of magnitude higher than its current value”, during Wednesday’s quarterly earnings call.
After Musk’s comments, Twitter shares rose 1.6% in trading after hours in New York.
Musk has until Oct. 28 to meet a court order and close his $44 billion purchase.
