After Musk Buys a Big Stake in It, Twitter Explodes 27%

Shares of Twitter climbed 25% on news that Elon Musk had personally purchased a 9.2% stake in the social media company. After this unexpected move, Musk became Twitter’s largest shareholder, now owning its 73,486,938 shares. The stake is now worth $2.89 billion.

Musk’s move came out of the blue since earlier, he had criticized Twitter, in numerous tweets, for not committing to free speech and undermining democracy. Now, when Musk wields much power in the company, many wonder whether he will want to reform Twitter’s platform.

Whether Twitter is reinvented or not, its future seems more promising now than several months ago when it posted poor quarterly results.

Even though it had dropped 38% in the past 12 months, the stock added $8.38 billion to its market capitalization thanks to Musk’s investment. Reuters believes that Twitter shares could continue going further up.

It might be the right time to trade Twitter shares. Reuters believes that Twitter could enjoy better prospects after Musk purchased its shares. Do not lose this new fantastic opportunity.