Many words have been used to describe Twitter over the past few years, many of them unrepeatable, but one word that hasn’t been something associated with the social media giant is interesting. Until now. Elon Musk changed that narrative rather quickly when he purchased 73,486,938 shares of Twitter Monday, which gives him a staggering 9.2% passive stake in the company.
His move led to a massive ripple effect, which resulted in Twitter stock surging more than 25% on the premarket Monday. Here’s what web bush analyst Dan Ives said about Monday’s move on CNBC.
“Musk could try to take a more aggressive stance here on Twitter; This eventually could lead to some sort of buyout. This makes sense given what Musk has at least been talking about, at least from a social media perspective,”
Less than two weeks ago, Musk lit up Twitter with chat and speculation that he might actually start an alternative to Twitter after criticizing it and questioning whether it truly was a place free speech could live. Here’s the tweet that had people buzzing.
“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?”
After that tweet, Buck Sexton, Christina Pushaw, the press secretary for Florida Governor Ron DeSantis, offered Musk a suggestion.
“Buy this one,” she tweeted.
Musk actually uses Twitter very frequently and has over 80 million followers, and now he is the target shareholder of the entire company.
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