Reported 2 days ago
Wall Street banks, including Morgan Stanley and Bank of America, are working to recover losses from their 2022 financing of Elon Musk's Twitter acquisition, now known as X. They plan to sell senior portions of the debt with hopes of regaining nearly all of their investment, boosted by potential profits from Musk's AI startup, xAI Corp. The renewed optimism on Wall Street is linked to the pro-business stance of the new Trump administration, potentially improving future market conditions and corporate finance activities.
Source: YAHOO