Elon Musk buys 9.2% in Twitter

San Francisco, April 4 Tesla CEO Elon Musk revealed a 9.2% stake in Twitter. He has bought approximately 73.5 million shares, according to a filing on Monday. Twitter’s stock surged over 25% before the market opened on Monday. Musk’s stake...

Tribune Web Desk

Updated At : 01:04 PM Apr 05, 2022 IST

San Francisco, April 4

Tesla CEO Elon Musk revealed a 9.2% stake in Twitter. He has bought approximately 73.5 million shares, according to a filing on Monday. Twitter’s stock surged over 25% before the market opened on Monday.

Musk’s stake in Twitter is considered a passive investment, which means Musk is a long-term investor. “We would expect this passive stake as just the start of broader conversations with the Twitter management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,” Dan Ives of WedBush Securities said. — AP