Twitter stock continues to grow after Musk’s purchase
Twitter stock has risen by roughly 25 per cent following tech giant Elon Musk’s purchase of 9.2 per cent of the company’s shares.

Keean Bexte

April 5, 2022

Twitter stock has risen by roughly 25 per cent following tech giant Elon Musk’s purchase of 9.2 per cent of the company’s shares.

At the time of writing, Twitter stock (TWTR) has risen to $51.47 USD from $39.30 USD (a 23.6 per cent increase) since the world learned of Musk’s $2.89 billion purchase on March 14, officially becoming the company’s largest shareholder on April 4.

Musk’s purchase appears to be in part motivated by his concern that Twitter “serves as the de facto public square” but fails to adhere to “free speech principles.”

Since becoming the company’s largest shareholder, Musk has been appointed to the Board of Directors at Twitter, meaning that he’ll have a direct say in how the company is run in the future.

“I’m excited to share that we’re appointing Elon Musk to our board,” tweeted Twitter CEO Parag Agrawal. “Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.”

“He’s both a passionate believer and intense critic of the service, which is exactly what we need on Twitter, and in the boardroom to make us stronger in the long-term. Welcome, Elon!”

Musk has yet to comment publicly on his long-term plans for the platform but appears to be willing to leave some decisions up to users.

Late on April 4, Elon Musk asked users if they wanted an edit button, a long-demanded feature yet to be implemented.

It appears that Twitter is taking the poll results seriously, too.

Besides questions of what new features and assurances for free speech Musk might bring, many wonder whether “everyone’s favourite President,” Donald Trump, will return to the platform after being permanently suspended over a year ago.

Given that Trump announced that he’s going to “do it again, a third time” (i.e., run for president), having his Twitter account would serve as a boon for his outreach. However, even the thought may be too much for the current Twitter board to handle.

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