STORY: "From a brand or business point of view, it's completely irrational," said Allen Adamson, co-founder of Metaforce, a brand and marketing company. "It's probably the final strike in the complete unwinding of Twitter, and likely going to be good for Elon Musk because now people will be talking about his X vision, not how much money he's going to be losing on Twitter."

Earlier in the day, Elon Musk and Twitter chief executive officer Linda Yaccarino unveiled a logo for the social media platform that featured a white X on a black background as a replacement for the familiar blue bird symbol.

"X is here! Let's do this," tweeted Yaccarino, who also posted a picture of the logo projected onto the company's offices in San Francisco.

"I think initially it detracts from the value in terms of, you know, it could be a black eye for Twitter if advertisers ultimately push back," said Dan Ives, managing director at Wedbush Securities, who covered Twitter stock before Musk took the company private. "When you lose an iconic logo like that, re-brands are dangerous, and, you know, clearly back against the wall for Twitter, and you're seeing that rebrand from start to finish, but I think, kneejerk, this probably detracts from the value that you lose the iconic Twitter birdie."

Weeks before completing his Twitter acquisition last year Musk had said that buying the company would speed up his ambition to create an "everything app" called X by three to five years.

Since the takeover of Twitter, the company has faced tumultuous times with layoffs, a sharp drop in advertisers and the meteoric rise of Threads, Meta's response to Twitter.