Tesla Inc (NASDAQ: TSLA) CEO Elon Musk Twitter Inc (NYSE: TWTR) became the largest shareholder in Twitter Inc (NYSE: TWTR) on Monday after acquiring a 9.2% stake. The deal erected a green fence on Wall Street.
Buy Elon Musk’s Stock on Twitter
Shares of Twitter reportedly closed up 27.12% at $49.97 on the New York Stock Exchange on Monday CNN. The tech billionaire bought 73.5 million common shares in the social media platform for $2.9 billion at its April 1 closing price.
In this way, Musk’s stake in the company exceeds that of investment funds Vanguard (8.8%) and Morgan Stanley (NYSE: MS) (8.4%) — the two major shareholders behind the company — and Jack Dorsey (2.25%). %), according to Washington post.
Elon Musk is one of Twitter’s most prolific users. With an active profile, the tycoon frequently expresses his views on free speech within said network, bitcoinor some other hot topic.
On March 25, Musk tweeted a poll in which he asked: “Freedom of speech is critical to the functioning of democracy. Do you think Twitter strictly adheres to this principle? More than 70 out of 2 million voters % said “no”.
“Given that Twitter is a de facto public square, failure to respect fundamentals undermines democracy. What should be done?” he asked the other day. “Need a new platform?” “Buy Twitter,” he asked, was one of the first responses he received.
With the departure of Twitter’s founder — and in the face of the company’s abysmal financials — the addition of Elon Musk arguably indicates at least two near-term impacts on the company.
First, analysts say, the arrival of a possible leader investor This will bring new vitality to the company, even if it has to pass the filter of economic authorities.
On the other hand, because of Musk’s stance on content moderation, the billionaire as a shareholder may have a lot to say about the impact of Twitter’s policy in this situation.
Musk, who has 80 million followers, has tweeted about his love for Berlin, general issues, the pandemic and many of his businesses. He tweeted a cryptic “oh hi haha” after he announced the stake purchase on Twitter, which had more than 350,000 likes on Monday and generated more than 35,000 comments.
This article was originally published here.