Good morning contrarians! It’s Friday, May 13. Great day for a meltdown. But remember what Yogi Berra said: It’s bad luck to be superstitious.

As of 0615, stock futures are pointing to a higher open anyway. Tech stocks are leading things out, with the Nasdaq up 1.6%. S&P 500 futures are up 1% with Dow Industrials up a little less.

Today we have the University of Michigan consumer sentiment reading at 1000. And of course the saga of Elon to hog hedlines, with his latest tweet that the Twitter ($TWTR) deal is “temporarily on hold” causing that stock to drop more than 20% in the pre-market.

How bad has the damage been from all this selling? Some anecdotal evidence from my time in Las Vegas.

All of that and more in today’s briefing and podcast. Get it here:

Elon Musk announced earlier today that his proposed $44B acquisition of Twitter $TWTR will be put on hold "pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users".

The stock is currently trading ~20% down in the pre-market, for ~$35 per share.

Hindenburg (best-known for Nikola report) flagged Twitter yesterday. They believe the deal is likely to be repriced lower on the back of the NASDAQ underperformance and alleged poor fundamentals of the business and economics of the deal. Even Elon responded to Hindenburg: "Interesting. Don’t forget to look on the bright side of life sometimes!"

Hindenburg has one of the best short selling track records in our database, past 20 calls:

Im the biggest $TSLA bull and a Musk fan but the mental gymnastics that some $TSLA investors are doing in terms of how the $TWTR acquisition is some sort of 5D chess move because of synergies that are super far fetches and only Elon has the vision to make them come true is just too much 😂😂😂

Elon Musk's below tweet has generated over 1M likes so far. I honestly love it. Investing in a company you believe in is a great idea. It gives you confidence in your investment when things are not going well and you should know the company better than a company you're not familiar with.

So what companies does Elon Musk follow on $TWTR?

Besides the companies Elon has founded, Planet is the only publicly traded company Elon Musk follows.

According to Google "Planet is a leading provider of geospatial data for use in agriculture, government, and commercial mapping, and is seeing customer growth in new markets such as insurance, commodities, and finance."

You might be saying, but Elon says invest in what YOU believe in. That's why I probably won't invest in $PL myself, but if it's good enough for a genius maybe it's good enough for me.

Would you invest in $PL? If you would, please let me know why!

"He [Musk] is likely to trim headcount [at Twitter $TWTR]: its 7,500 employees generated average revenues of $677,000 last year, whereas those at Facebook $FB generated $1.6m..."