The online feud between Elon Musk and President Donald Trump appeared to drive traffic to Musk’s social media platform X (formerly Twitter), but could also create issues with the platform’s parent company Xai.
Musk merged X and Xai earlier this year, and Bloomberg reported this week that he was trying to raise $5 billion (and reported $300 million) to fund the total company.
It led to some nasty moments as Musk and his former ally Trump seemed to have collapsed. In fact, the Wall Street Journal reports that Morgan Stanley was gathering Xai executives on Thursday afternoon to pitch potential investors as Musk and Trump were angrily posting about each other on their respective social networks.
Morgan Stanley reportedly wanted to sell his debts for around 100 cents in dollars, but traders told WSJ that he sometimes traded for 95 cents in dollars on Thursday. Investors also reportedly said that lower prices may require Morgan Stanley to provide additional incentives, such as rising interest rates.