Tesla owner and eccentric billionaire, Elon Musk has acquired approximately a 9.2% stake in his favorite social media platform where some of his tweets have either sent stocks of his company or other organisations going up or down.
Post his announcement of the acquisition, Twitter shares jumped 26% when the market opened for trading. This comes from Elon’s constant questions about the platform’s functions and even asked his 80 million followers recently whether the platform adheres to its principles. He then suggested if a new platform was needed to replace the current platform.
Twitter itself has been facing some controversy with ex-CEO founder Jack Dorsey leaving the company abruptly and is currently being heading by Parag Agarwal. Despite the popularity of the platform with most users preferring Twitter over Facebook, the share prices of this early silicon valley social network has lagged behind.
