#jaiyeorie
Elon Musk has purchased a significant investment in Twitter, sending the price skyrocketing and fueling rumors that he may seek a more active role in the company's operations.
Musk, the world's richest man and CEO of Tesla, is a frequent Twitter user who frequently posts controversial messages and announcements and has been critical of social media businesses for a long time.
He questioned Twitter's commitment to free expression in a recent article and hinted at starting his own site.
According to a filing with the US Securities and Exchange Commission (SEC), the billionaire from South Africa bought almost 73.5 million Twitter shares, or 9.2 percent of the firm.
His stake, based on the company's stock closing price on Friday, is approximately $2.9 million.
This had a huge influence on investors right away.
Twitter's stock was trading at roughly $49 at 7.15 a.m. in New York (1115 GMT), up around 26%.
“We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,” analysts Daniel Ives and John Katsingris of Wedbush wrote in a note.
✍️✍️✍️ ✍️“feel free to disagree in the comments 👀 ☝️👆 & let JAIYEORIE know what U think!” 📎 COMMENTS 👈👉✍️🤳 DROP YOUR OPINIONS ✍️✍️✍️
0 Comments