Quick links: United States | Major Indices | Indices Future | Real-time Commodities | Webinars | Coronavirus | Economic Calendar
Stock Market
Google executive to take over as a new CEO of Pinterest
Stock Market
Accounting firm gets 100 million fine for faulty regulations
Forex
The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price
Stock Market
Wall Street Lose Balance after recession strikes growth fear among consumers’
Stock Market
Inflation ringing the recession bell - Mohammed Shaheen
Stock Market
5 Apr 2022
Elon Musk Unveiled 9% Stake on Twitter; Becomes its Largest Shareholder
The Index Today
On Monday, Elon Musk revealed he owned a 9.2% stake worth about $3 billion in Twitter Inc. This has made the Tesla CEO the biggest shareholder in the company which has spurred a present surge in its shares by over 27%.
According to Reuters, Musk, who is a prominent presence in the microblogging site with a follower count spanning 80 million, had previously tweeted that he was seriously contemplating creating a new social media platform after expressing his skepticism over Twitter’s commitment to freedom of speech.
He also created a poll asking Twitter users to voice their stance on the long-awaited ‘edit’ feature on the social media platform. Following this, Twitter CEO Parag Agrawal advised users to “vote carefully”.
General Hill Capital LLC’s Thomas Hayes contended, "It does send a message to twitter...having a meaningful stake in the company will keep them on their toes, because that passive stake could very quickly become an active stake."
