te Why Twitter shares are up by 27%? Know full report with Kushal Gupta | Zee Business

Why Twitter shares are up by 27%? Know full report with Kushal Gupta

Why Twitter is up by 27%? Kushal Gupta's explains in this report.

Why Twitter shares are up by 27%? Know full report with Kushal Gupta
Elon Musk, the founder of Tesla and SpaceX, is become the largest shareholder of microblogging site Twitter.

Elon Musk, the founder of Tesla and SpaceX, is become the largest shareholder of microblogging site Twitter. He controls 9.2% shares of the microblogging site. Musk's statement resulted in a 27 percent rise in the stock price of Twitter. Why Twitter is up by 27%? Kushal Gupta's explains in this report.

Gupta said that Twitter shares jumped 27% and the biggest reason for this was yesterday's regulatory filing that showed Musk now owns a 9.2% stake in Twitter. He now appears to be the microblogging site's greatest stakeholder. With an 8.79 percent holding, Vanguard has become the second-largest stakeholder.

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Many analysts believe Musk has the ability to buy out Twitter. In fact, the total value of Tesla's owner Twitter shares is over Rs 22,000 crores, based on Friday's closing price, according to Gupta.

Elon Musk has done a lot of commentary regarding Twitter. For two consecutive weeks, he has been seen criticizing the microblogging site. Despite that, he has bought 9.2% stake in the company. It appears that he will be seen purchasing Twitter in the near future.

On March 25, Musk conducted a Twitter poll "A functional democracy requires free expression. Do you think Twitter follows this rule to the letter?" 70% of those polled answered no. Musk also posted an intriguing poll on Twitter this morning, asking "Do you want an edit button in Twitter?" to which 75 percent of users responded positively.

So somewhere this atmosphere is being created for Twitter that Elon Musk can be seen buying it later, said Gupta.

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Written By: ZeeBiz WebTeam
Edited By: Shivendra Kumar
Updated: Tue, Apr 05, 2022
02:42 pm
ZeeBiz WebDesk
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