Musk’s Cannabis-Themed Twitter Offer Looks High but Not Wacky

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Elon Musk is offering $54.20 a share for all of Twitter––and you don’t need to work up a discounted cash flow analysis to see how he arrived at the price. 

Starting from Twitter’s closing price of $45.85 on Wednesday, $54.20 is simply the lowest price that includes “420,” a favorite Musk reference and shout out to cannabis culture. It reportedly dates back to the early 1970s and a small group of California high school students who met to partake at 4:20 p.m. each afternoon.