Twitter stock jumps after Elon Musk Buy
Twitter shares rose more than 20% Monday morning on news that Tesla CEO Elon Musk procured a 9.2 percent stake in the social media platform.
Musk is currently the biggest external investor with 73,486,938 offers, as indicated by a Securities and Exchange Commission recording delivered Monday.
The Tesla boss is an extremely dynamic Twitter client with a serious fan base. Simply last week he surveyed his 80 million followers on whether the platform “rigorously adheres” to free speech.
The arrangement to get a stake in Twitter comes a very long time after lengthy time CEO Jack Dorsey withdrew the organization.
Over 70 percent responded “No,” prompting Musk to ask whether a new platform is needed.
Parag Agrawal replaced Dorsey in November, prompting Musk to tweet a meme depicting Agrawal as Joseph Stalin and Dorsey as Soviet secret police chief Nikolai Yezhov being pushed into water.