crypto news<\/strong>: Following the Tesla shareholder meeting earlier in May 2023, billionaire Elon Musk said he would not mind losing money if that is what it takes to speak his mind. \u201cI will say what I want to say even if it means losing money,\u201d he said at the time speaking in an interview. In the current context of Twitter rebranding to X, advertising and brand experts believe the rebranding exercise has nothing to add to the company but for Musk’s ego. Market analysts believe the exercise could likely be counter productive for the social media company that has already been on a value decline since Musk’s takeover in the last quarter of 2022.<\/p>\n Also Read: Pro-XRP Lawyer’s Twitter Account Hacked; Beware Of Fake Rewards<\/strong><\/a><\/p>\n <\/p>\n Meanwhile, the dogecoin price<\/a> has been on a rise since Elon Musk announced the rebranding plans. Also, Musk’s updated Twitter location to X\u00d0 fueled<\/a> speculation that the D refers to Dogecoin.<\/p>\n According to a Bloomberg reports<\/a>, brand experts believe the renaming exercise could be a mistake that could eventually affect Tesla stock as well. Todd Irwin, founder of brand agency Fazer, said the actions ‘tweeting’ and ‘retweeting’ have become part of social media culture and that new vocabulary is hard to replicate such a cultural effect. On the flip side, it is believed that the rebranding move could likely not have much impact on the company’s bottom line any time soon, as per Gary Black, managing partner at The Future Fund. He said it eventually boils down to whether or not the company will improve on free cash flow by the next year.<\/p>\n While I’m no fan of Twitter’s name and logo change to X, it really shouldn’t impact $TSLA<\/a> fundamentals or stock price unless Twitter FCF doesn’t turn positive by 2024. With the 2024 Olympics and Presidential Election, the wind will be at X’s back. @elonmusk<\/a><\/p>\n <\/p>\n \u2014 Gary Black (@garyblack00) July 24, 2023<\/a><\/p>\n<\/blockquote>\n <\/p>\n Despite the sea change in the Twitter experience \u2014 paid verification, long-form content and limits to daily activity \u2014 Musk faces another challenge in recovering the platform’s advertising revenue. The platform’s ad revenue had dropped by over 50% since October 2022.<\/p>\nHuge Loss In Twitter Brand Value<\/h2>\n
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The Everything App<\/h2>\n
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