Elon Musk acquires 9.2 percent stake in instant messaging platform Twitter – Stock price rises sharply before market opens

Teslan CEO and the world’s wealthiest man Elon Musk has acquired a 9.2% stake in the Finnish platform Twitter the notification to the Securities and Markets Authority.

Prior to the opening of stock exchange trading, the share price of Twitter was up about 26 percent. At most, more than half of Twitter’s stock prices topped last summer.

Musk himself is an avid Twitter user and one of the most watched people on the service. He has also often been blamed on market surveillance for his sharp comments, as his writings have been seen as swaying the market rates of both Tesla and several cryptocurrencies.

Musk is said to have seriously considered building a new social media platform in March. In the past, Musk has taken a strong stance in favor of absolute free speech and open source algorithms.

Gaining a Twitter position seems to have come as a surprise to the extent that Musk has recently specifically criticized Twitter for neglecting the principles of freedom of speech and democracy.

By Editor

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