Any hope for a relaxing start to the week on Twitter was quashed Monday morning when it was discovered Elon Musk acquired a 9.2% stake in the company for close to $3B.
The news came following weeks of Musk questioning Twitter’s integrity as a social platform, with the series of events as follows:
- 3/14: Musk makes the stock purchase, according to filings.
- 3/25: Musk polls the public on whether Twitter adheres to principles of free speech and says the poll results will be consequential.
- 3/26: Musk asks, “Is a new platform needed?”
- 4/2: Musk tweets a meme about ducks.
- 4/4: Musk’s stock purchase disclosure is released.
Following the news, Twitter shares shot up like a Falcon 9 (up 27%+ as of market close Monday, its best day since its IPO). Unsurprisingly, reactions were entertaining.
But many questions remain: Will Musk join Twitter’s board? How will this impact Musk’s wonderful relationship with the SEC? Will Musk try to drive changes to Twitter’s policies or business strategy?
Only time will tell. Meanwhile, we look forward to more Musk memes.
Topics:
Social Networking
