Days before Elon Musk was set to purchase Twitter for $44 billion, he terminated the deal. Musk’s decision to back out—rumored to be due to the number of spam accounts on the social media platform—could be a breach of contract, according to Roy Behren, co-president and co-chief investment officer at Westchester Capital Management, and portfolio manager of the Merger Fund.
Since the Industrial Revolution, the economy has depended on industries that produce high amounts of carbon emissions. Now, scientists warn that we have just 30 years to reduce emissions to net zero to avoid the catastrophic effects of climate change.
When the health technology company Theranos announced the introduction of an automated blood-testing device that could run multiple tests at once and make testing more affordable and accessible to consumers, it amassed millions of dollars from investors, spiking the company’s valuation to $10 billion.