Elon Musk acquires 9% stake in Twitter
Tesla CEO Elon Musk has taken a big stake in social media company Twitter, a regulatory filing released Monday showed.
Musk owns 73,486,938 shares of Twitter, which represents a 9.2% stake in the company, according to the Securities and Exchange Commission filing. The stake is worth more than $2.8 billion, based Twitter’s closing price on Friday.
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Twitter shares surged more than 25% in the premarket following the news, trading around $49.40 per share.
Source: cnbc
Via: norvanreports
