[ralfd]

A few weeks ago in February:

https://www.investing.com/news/stock-market-news/musks-x-sec...

> Banks have completed the sale of $5.5 billion in debt for Elon Musk's X, according a Wednesday report by the Wall Street Journal. The debt offering was increased following a strong response from investors. Ultimately, the loans were sold at 97 cents on the dollar.

This is not the same, as no ownership was traded, but it signaled surprising confidence that the debt could be sold with only a small discount.

[SideQuark]

That does not value X at $44B as the poster claimed. It also states “ These floating-rate debts have an interest rate of around 11%, making the borrowing costs several percentage points higher than even the riskiest loans on Wall Street.” which is a spectacular admission the markets put X on incredibly shaky ground.

X being forced to sell off debt at such extraordinarily bad terms means X is likely about to implode.

[ralfd]

I agree that the interest rate is astonishingly high.