New York (CNN Business)-----Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company.
News of the purchase sent shares of Twitter (TWTR)
soaring 22% in early trading. Musk did not disclose what he paid for
the shares, but his stake was worth $2.9 billion as of the close of
trading Friday, and $3.5 billion after the spike early Monday.Musk's
filing did not disclose the purpose of the purchase or any plans for
the company. But he has been a high-profile critic of Twitter policies
in the past. Last month he said he was giving "serious thought" to creating a new social media platform. "Given
that Twitter serves as the de facto public town square, failing to
adhere to free speech principles fundamentally undermines democracy,"
Musk tweeted last month. "What should be done?" MORE AT https://www.cnn.com/2022/04/04/investing/elon-musk-twitter-shares-stake/index.html
Wonder how they'll handle Musk now?
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