Though Musk's 9.2% stake is considered passive, many Wall Street analysts believe the billionaire has much more planned for Twitter's long-term strategy.
Though the billionaire's stake in the social media company is considered passive, some Wall Street analysts believe Musk has much more planned for Twitter's long-term strategy. in building a rival to Twitter, CFRA Research senior equity analyst Angelo Zino warns that a potential all-out buyout of the company could still be on the table.
Musk's latest move follows his recent criticism over the social media platform's approach to free speech. He has also previously beenThe billionaire posted a Twitter poll in March questioning whether the platform allows users to speak freely. More than 70% of respondents said Twitter lacked a commitment to free speech, leading Musk to ask his more than 80 million followers, "What should be done?"public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" Musk wrote in another tweet on March 26. "Is a new platform needed?"
"We believe there is a better chance of us playing in the Masters this weekend than Musk staying a passive investor at 9%," Ives said. "The Street is reading this as a first move for Musk in an eventual active role at Twitter."Morningstar senior equity analyst Ali Mogharabi said in a note to clients that news of Musk's stake offers the social media platform an opportunity to potentially increase its user base and engagement and attract more advertising dollars.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter shares soar more than 25% after Elon Musk takes 9% stake in social media companyTesla CEO Elon Musk has taken a big stake in social media company Twitter, a regulatory filing released Monday showed.
Read more »
Elon Musk buys 9 percent stake in TwitterThe stock-buying revelation comes as Musk has emerged as one of the loudest and most prominent critics of Twitter’s moderation efforts.
Read more »
Elon Musk buys large stake in TwitterNEW: Elon Musk has bought a 9.2% stake in Twitter, according to a regulatory filing released today. He criticized the company last month for 'failing to adhere to free speech principles.'
Read more »
Tesla CEO Elon Musk takes a 9% stake in TwitterTesla CEO Elon Musk is taking a 9.2% stake in Twitter.
Read more »
Elon Musk Takes 9.2% Stake in Twitter Worth Almost $3BUPDATE: Musk has bought almost 73.49 million shares in Twitter, which would be worth $2.88 billion based on Twitter's last close. By parikshitm899
Read more »
Tesla CEO Elon Musk takes a 9% stake in TwitterMusk has raised questions about free speech on Twitter and whether failing to adhere to its basic principles undermines democracy.
Read more »