Twitter’s stock soared after Tesla and SpaceX CEO Elon Musk acquired a 9.2% passive stake in the company.
The company closed up nearly 73% after its public debut on Nov. 7, 2013. The stock is still down nearly 37% from its all-time high in February 2021.
expect the outspoken executive to take a more aggressive stance. That could include increasing his stake or taking a controlling interest in the company in an effort to push for change.
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Elon Musk Buys 9.2 Percent Stake in Twitter, Sending Stock SoaringThe stake was worth around $2.89 billion, based on the company's closing price Friday.
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Elon Musk takes 9 percent stake in Twitter, becoming biggest shareholderThe goal of Elon Musk's 73.5 million share purchase -- worth $2.9 billion, based on the closing price Friday -- is not clear.
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Elon Musk Acquires 9.2% Stake In TwitterTesla CEO Elon Musk acquired a 9.2% stake in Twitter, amounting to $2.89 billion as of Friday's closing price. This makes Musk the company's largest shareholder, nearly four times the size of founder Jack Dorsey's 2.25% stake, according to reports.
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