July 6, 2022
Elon Musk Takes 9.2% Stake in Twitter

Elon Musk Takes 9.2% Stake in Twitter

Posted April 4, 2022 at 2:45pm by iClarified · 2190 views
Tesla CEO Elon Musk now owns 73.5 million shares of Twitter, representing a 9.2% stake in the company, according a 13G regulatory filing published this morning. Based on Friday's closing price, the stake is worth around $2.89 billion. Today, Twitter's stock skyrocketed up around 22% on the news.

Musk has been critical of Twitter in the past, stating that "Free speech is essential to a functioning democracy" and polling his followers with the question, "Do you believe Twitter rigorously adheres to this principle?".

The poll results found that around 70% of users believed Twitter did not adhere to the principles of free speech.

Elon Musk Takes 9.2% Stake in Twitter

Following the poll, Musk asked users if they thought a new platform was needed.

Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?
Is a new platform needed?


Wedbush analyst Daniel Ives believes that Musk's passive stake in Twitter is just the start of what could lead to a more aggressive ownership role.

"it looks like Elon has his eyes laser set on Twitter and 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. We will be following Musk's comments/future regulatory filings closely to see if Musk ultimately pursues further conversations with the Twitter board and/or goes to an active stake and above the key 10% threshold. For Tesla purposes, we view this move as Musk just further building out his tentacles and we are not worried in any way around Musk "taking his eye off the ball" with Tesla/SpaceX."

Wedbush maintains an outperform rating on the stock. Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for updates.


Elon Musk Takes 9.2% Stake in Twitter
Add Comment
Would you like to be notified when someone replies or adds a new comment?
Yes (All Threads)
Yes (This Thread Only)
No
iClarified Icon
Notifications
Would you like to be notified when we post a new Apple news article or tutorial?
Yes
No
Comments
You must login or register to add a comment...
Recent. Read the latest Apple News.
RECENT
Tutorials. Help is here.
TUTORIALS
iPhone 13 Repair Manual PDF [Download]
iPhone 13 Pro Repair Manual PDF [Download]
How to Add Widgets on iPhone [Video]
iPhone 13 Pro Max Repair Manual PDF [Download]
Where to Download macOS Monterey
Deals. Save on Apple devices and accessories.
DEALS