Elon Musk Puts His Money Where His Mouthpiece Is
On Monday Elon Musk shocked much of America, especially those that use Twitter regularly, by announcing he owned a 9.2% stake in Twitter. This makes Musk Twitter’s largest shareholder and precipitated a 27% gain in the Twitter share price at one point during the day.
As unexpected as this was to just about everyone when the news hit, looking back on events from the past few months, it is easy to spot the breadcrumbs. Starting at the end of January it appears that Musk began buying Twitter shares almost daily per the Associated Press. While at the time no one seemed to notice, Musk’s nature was getting the better of him and he couldn’t help but tweet multiple times about social media and Twitter while he was semi-secretly acquiring a huge position in the company.
On the day the news actually dropped, Elon tweeted out again because he loves stirring the pot.
The consequences of taking this large Twitter stake and the influence Musk can have as an investor, a Twitter Power User, and most importantly as a completely unabashed Troll haven’t really been completed digested. This is interesting on so many levels because it may be the beginning of Muck stepping into the activist investor space. He has the resources and the following to make a lot of noise.
Public companies and other investors take notice. I can’t wait to see how this plays out.