Elon Musk Becomes Twitter’s Largest Shareholder After Shakeup Tease

[Teh One Who Knocks]

By Amanda Prestigiacomo - The Daily Wire




Tesla CEO Elon Musk has become Left-wing social media platform Twitter’s largest shareholder, taking 9.2% stake in Twitter Inc.

Musk now has four times as many shares as Twitter founder Jack Dorsey, who owns 2.25%.

“Twitter shares surged about 26% in premarket trading after the regulator filing released Monday detailing Musk buying the holding,” Bloomberg reported. “The stake is worth about $2.89 billion, based on Friday’s market close.”

The move comes after Musk teased a shakeup at Twitter, or possible plans to build a new social media platform that promotes free speech.

Last month, Musk asked his followers to vote in a poll about free speech and Twitter’s adherence to it, emphasizing that the “consequences of this poll will be important.”

“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” the 50-year-old asked. “The consequences of this poll will be important. Please vote carefully.”

When the poll came back to show that more than 70% of the 2,000,000-plus who voted answered “No,” Musk teased creating a new platform of his own.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” he asked, following up, “Is a new platform needed?”

[lost in melb.]

Wish he owned over 50%

[Teh One Who Knocks]

Wish he owned over 50%

Having the most shares in the company is a start....

[PorkChopSandwiches]

I sure hope he can fix that shit show

[Teh One Who Knocks]

I sure hope he can fix that shit show

Depends if he can get enough influence to do something with the company I suppose. If anyone could do it, Elon could.

[PorkChopSandwiches]

All they have to do is stop silencing people, easy fix

[PorkChopSandwiches]

.

[PorkChopSandwiches]

He probably bought the stake so he could shut down @ElonJet

[Muddy]

He probably wants to fire that little Jack Dorsey piss ant..

[PorkChopSandwiches]

He's better at Block anyway

[Teh One Who Knocks]

By Lucas Manfredi | FOXBusiness




Elon Musk disclosed a 9.2% stake in Twitter on Monday, sending the company's stock soaring more than 25%. But some analysts don't see the Tesla chief executive stopping there.

Though the billionaire's stake in the social media company is considered passive, some Wall Street analysts believe Musk has much more planned for Twitter's long-term strategy.

While Musk has expressed interest in building a rival to Twitter, CFRA Research senior equity analyst Angelo Zino warns that a potential all-out buyout of the company could still be on the table.

"While a passive stake by Musk won't change TWTR's fundamentals, we do think his investment will drive greater interest from consumers," Zino wrote in a note to clients on Monday. "Musk's actual investment (less than $3B) is a very small percentage of his wealth and an all-out buyout should not be ruled out."

CRFA maintains a "buy" rating on Twitter's stock and has upped its 12-month target price by $13 to $55 per share.

Musk's latest move follows his recent criticism over the social media platform's approach to free speech. He has also previously been critical of Twitter CEO Parag Agrawal, comparing the executive to Joseph Stalin, the former leader of the Soviet Union.

The billionaire posted a Twitter poll in March questioning whether the platform allows users to speak freely.

"Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?" he wrote.
More than 70% of respondents said Twitter lacked a commitment to free speech, leading Musk to ask his more than 80 million followers, "What should be done?"

"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" Musk wrote in another tweet on March 26. "Is a new platform needed?"

Meanwhile, Wedbush Securities managing director of equity research, Daniel Ives, told FOX Business that Musk's stake will not remain passive for long, noting it is just the start of broader conversations with the company's board and management.

"We believe there is a better chance of us playing in the Masters this weekend than Musk staying a passive investor at 9%," Ives said. "The Street is reading this as a first move for Musk in an eventual active role at Twitter."

Morningstar senior equity analyst Ali Mogharabi said in a note to clients that news of Musk's stake offers the social media platform an opportunity to potentially increase its user base and engagement and attract more advertising dollars. Twitter currently has 217 million daily active users.

He also believes Musk could "influence the openness" of Twitter's platform and how it controls content.

"Musk has already indicated that he did not agree with the appointment of Agrawal and that he desires some changes," Mogharabi said. "This creates a bit more uncertainty about how Agrawal and the firm may respond to the firm’s now largest shareholder, which supports our very high uncertainty rating."

Mogharabi also says Musk could help push the platform to invest more aggressively in its recently launched Twitter Blue subscription service, which offers premium features and app customizations for a small monthly fee.

Morningstar maintains a fair value estimate for Twitter of $58 per share.

[Teh One Who Knocks]

By Joseph A. Wulfsohn | Fox News




CNN's left-wing media correspondent Brian Stelter appeared a bit nervous about tech tycoon Elon Musk becoming Twitter's largest shareholder.

The Tesla co-founder and CEO shocked the nation on Monday with an SEC filing that showed he had purchased 9.2% stake in Twitter, Inc., controlling nearly 73.5 million shares as individual stocks were priced at $49.81 on Monday morning.

Musk had been outspoken about Twitter "failing to adhere to free speech principles" which he insisted "fundamentally undermines democracy." He also asked his 80.3 million Twitter followers if a new social media platform was "needed."

On Monday's "Reliable Sources Daily," Stelter addressed the billionaire's "surprise" move in a panel discussion with CNN Business writer Clare Duffy asking "whether he'll continue to buy shares, become a bigger investor, and take action here."

"Elon has criticized Twitter for not allowing free enough speech. And so I think the big question will be whether he'll try to, you know, get Twitter to change its content moderation policies. He also suggested that maybe Twitter should make its algorithm open source so that people know how it works. So I think those are some of the changes we could potentially see, but, you know, Elon always also talks a big game," Duffy said. "He knew what he was doing when he was sending out those tweets. And so, you know, it does suggest that he's gonna try to shake things up at Twitter."

After CNN Business writer Sara O'Brien suggested "everyone wants to follow what the billionaires are doing" in response to Twitter's soaring stock value, Stelter offered a perhaps gloomy outlook.

"There's interest in billionaires, there's celebration of the Musk. There's also fear, I think, sometimes or wariness of- okay, so here's the richest man on the planet who just bought a big chunk of one of our most important communications tools," Stelter said. "He's also one of the biggest owners of satellites in the world. So he's incredibly powerful, incredibly, I don't know, am I allowed to use the word strange when talking about Elon Musk?"



Musk has yet to make a public statement regarding the purchase of his nearly 10% stake in Twitter.

Twitter has had a long history of censorship, particularly targeting conservatives. The tech giant banned former President Trump following the events of January 6.

During the 2020 presidential election, Twitter famously suppressed the bombshell New York Post report about Hunter Biden's laptop, which has since been verified by both The New York Times and The Washington Post.

More recently, Twitter has suspended The Babylon Bee after the conservative satirical website mocked Biden administration official Rachel Levine, a transgender woman, by declaring Levine "Man of the Year" following USA Today including Levine among its "Women of the Year."

[Muddy]

I love Elon... That guy is incredible...

[Teh One Who Knocks]

[lost in melb.]

I love Elon... That guy is incredible...

He is simply courageous. Probably the most important quality to see the truth. Now, personally I think his judgement is sometimes wrong and he does goofy, stupid stuff. But there is nothing deceptive about him. He is 99.9% sincere in what he believes.