Apple, Lions Gate Join IBM In Pushback Against Elon Musk, Twitter Over Antisemitic Content
Portfolio Pulse from Chris Katje
Elon Musk's reply to an antisemitic post on Twitter has sparked backlash, drawing criticism from investors, advertisers, and the White House. IBM paused its Twitter advertising, which could impact Tesla's brand and share price. Tesla investor Ross Gerber and Citron Research expressed concerns over Musk's behavior affecting Tesla negatively. The EU is also targeting Twitter over misinformation, with Musk considering removing the platform from Europe.
November 17, 2023 | 7:18 pm
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NEGATIVE IMPACT
IBM has confirmed a pause in its Twitter advertising following Elon Musk's reply to an antisemitic post, which could impact Twitter's advertising revenue.
IBM's decision to halt its advertising on Twitter in response to Musk's actions indicates a direct financial impact on Twitter's revenue. As a significant advertiser with a planned $1 million spend, IBM's move could lead to other advertisers following suit, thereby affecting Twitter's short-term financial performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Elon Musk's engagement with an antisemitic post on Twitter has led to a backlash that could damage Tesla's brand image and investor confidence, potentially affecting the stock price.
Musk's actions on Twitter have led to negative publicity for Tesla, with investors like Ross Gerber expressing outrage and concerns over the brand's image. Advertisers like IBM are pausing their spending on Twitter, which could signal broader concerns among corporate partners and customers. This negative sentiment could lead to a short-term decline in Tesla's stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90