Twitter stock rockets after Elon Musk takes stake valued at more than $3 billion

[catfish1957]

https://www.marketwatch.com/story/twitter-stock-rockets-after-elon-musk-takes-stake-valued-at-more-than-3-billion-11649070782?mod=home-page

<snipit>
Shares of Twitter Inc. rocketed toward a five-month high Monday, after it was disclosed that Technoking of Tesla Elon Musk had acquired a large stake in the social media company.

The stock TWTR, +1.60% rose 26.2% in premarket trading, putting it on track to open at the highest levels since mid-November. To put that rally in historical perspective, the stock hasn’t advanced more than 26% in a day since it shot up 26.8% on Oct. 23, 2009.

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OMG!!!!!   I made a joke last week at site that Musk ought to buy Twitter, and turn it into a cute puppy dog and cat site.  Stinkin' SEC is probably coming to knock on my door at any time!!!!!!     

[Wingnut]

Jack "cuck" Dorsey only owns 2.8%.   I think I read with a 10% stake  Elon gets a seat on the board!

The leftist woke must be apoplectic!

[Kamaji]

Musk disclosed ownership of 9.2% of Twitter’s outstanding shares

That's a pretty big stake.

[catfish1957]

Jack "cuck" Dorsey only owns 2.8%.   I think I read with a 10% stake  Elon gets a seat on the board!

The leftist woke must be apoplectic!

A'int it a hoot?  I used to dislike Musk for his Telsa subsidies, but it is becoming clear, that Elon is quickly becoming our side's George Soros.   Only a hell of a lot richer.

Go Musk Go!!!!!

[Kamaji]

Analysts believe the shareholding taken by Musk, who has been highly critical of Twitter, is likely to result in him taking an active interest in the microblogging site that could lead to a buyout.

“We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,” said Dan Ives, an analyst at Wedbush Securities.

Source:  https://www.theguardian.com/technology/2022/apr/04/elon-musk-buys-stake-twitter-share-tesla-spacex

[catfish1957]

Source:  https://www.theguardian.com/technology/2022/apr/04/elon-musk-buys-stake-twitter-share-tesla-spacex

Dorsey already looks like a homeless POS.  I hope they televise the event when Elon has security having Jack packing his office, and being escorted to his car. 

Maybe we can get Steve Martin to play him in  "The Jerk II"  sequel.

[Kamaji]

Dorsey already looks like a homeless POS.  I hope they televise the event when Elon has security having Jack packing his office, and being escorted to his car. 

Maybe we can get Steve Martin to play him in  "The Jerk II"  sequel.

But only after he's completely realigned the board of directors and removed the current CEO of twitter, who is a crypto-fascist who makes Dorsey look positively rational and conservative by comparison.

[Wingnut]

A'int it a hoot?  I used to dislike Musk for his Telsa subsidies, but it is becoming clear, that Elon is quickly becoming our side's George Soros.   Only a hell of a lot richer.

Go Musk Go!!!!!

I echo your sentiment!

[Wingnut]

This is going to get interesting! 

Twitter (TWTR) - shares extended gains Tuesday after Tesla (TSLA) - CEO Elon Musk was given a seat on the board of the micro-blogging website just days after revealing a major stake in the group.

Musk will be named a 'class II' director at Twitter for a period of two years, the company said, in exchange for an agreement that the billionaire investor won't increase his stake to more than 14.9% of the group's outstanding shares.

Musk, who revealed a "passive" 9.2% stake in the group through a Securities and Exchange Commission filing yesterday, is now Twitter's largest individual shareholder

Parag Agrawal
@paraga
I’m excited to share that we’re appointing
@elonmusk
 to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.

Translation: "I'm shitting in my pants right now"

https://www.thestreet.com/markets/twitter-stock-extends-leap-as-tesla-ceo-elon-musk-wins-board-seat

[catfish1957]

I am looking forward till when Musk's stake turns from "passive" to cut them off at the knees.

[Kamaji]

How long is that agreement to not acquire more than 14.9% good for?

[catfish1957]

How long is that agreement to not acquire more than 14.9% good for?

Great question.  I think Elon's 9% stake at this ppoint is basically a gun to their head, and that they must squelch all left wing bias on the platform.

Musk is the richest man in the world, and I am thinking with 90% certainty that this 14.9% takeover threshold is based on a gentleman's agreement.  He's too shrewd a business man to put it in writing.  That would be counterproductive to his intent.....   Which is to clean up this cesspool.

[Wingnut]

How long is that agreement to not acquire more than 14.9% good for?

Prolly something the corrupt SEC will make-up in the coming weeks.

[catfish1957]

Prolly something the corrupt SEC will make-up in the coming weeks.

Good point.  I hope all the proceedings were documented.

[Wingnut]

Good point.  I hope all the proceedings were documented.

Yeah, He could be in some more hot water with the SEC. He was 11 days late reporting his Twiiter stock purchase! 

Oh and I found this about his limite to 15%..

According to a filing from the company, Twitter will appoint Musk to the company’s board as a “Class II director with a term expiring at the Company’s 2024 Annual Meeting of Stockholders,” pursuant to certain conditions. A key rule set in place by the agreement is that “so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9% of the Company’s common stock outstanding at such time.”

More simply, Twitter has set up its arrangement with Musk so that he can’t own even 15% of the company while on its board, limiting his ability to push the social service around.

All he would have to do is leave his position on the board and bingo, buy more stock

[catfish1957]

Yeah, He could be in some more hot water with the SEC. He was 11 days late reporting his Twiiter stock purchase! 

Oh and I found this about his limite to 15%..
All he would have to do is leave his position on the board and bingo, buy more stock

lol...true.  Then choose who he wants on the board.  Checkmate.

Because honestly....   Elon Musk has a lot more important unworldly stuff to fill his time with, than this cesspook of a social platform.

[Kamaji]

Having an ownership limitation that gets triggered at 14.9% appears to be applicable to a lot of publicly-traded companies.  I'm not sure what the genesis of the limitation is; however, I don't think that this is some nefarious one-off Musk-related limitation dreamed up by Twitter.

[catfish1957]

Having an ownership limitation that gets triggered at 14.9% appears to be applicable to a lot of publicly-traded companies.  I'm not sure what the genesis of the limitation is; however, I don't think that this is some nefarious one-off Musk-related limitation dreamed up by Twitter.

Poison Pill.  There are many forms and fashions of this strategy.  Not sure which one TWTR is utilizing, but they can make it difficult for Musk.  But thwarting the world's richest man is another aspect, and one not many take over targets have envisioned. 

If Musk wants it bad enough, it is his.  The question then becomes a game of multi multi billion dollar high stakes game of chicken.....   Does Musk give up, or does the stock get so dilute that it becomes worthless.

Think I might go look on the Reddit boards, and see what they are thinking.

[catfish1957]

If I was Musk, I would initiate an internal investigation, and work up the chain to see how far and wide the censorship rides.

After about 10 levels of "I was taking orders", and the buck stopping at Dorsey's desk, I'd seize and impound all his and other executive emails, and find out how much of this had criminal collusion with the Democratic Party. 

If he has the will he can cut the head off this snake once and for all.

[mystery-ak]

Elon Musk to Join Twitter Board After Becoming Largest Shareholder

Tesla and SpaceX CEO Elon Musk will be joining the board of directors at Twitter. The appointment comes after the billionaire took a 9.2 percent stake in the social media company, which makes him the company’s largest shareholder.

https://www.breitbart.com/tech/2022/04/05/elon-musk-to-join-twitter-board-after-becoming-largest-shareholder/

[catfish1957]

Elon Musk to Join Twitter Board After Becoming Largest Shareholder

Tesla and SpaceX CEO Elon Musk will be joining the board of directors at Twitter. The appointment comes after the billionaire took a 9.2 percent stake in the social media company, which makes him the company’s largest shareholder.

https://www.breitbart.com/tech/2022/04/05/elon-musk-to-join-twitter-board-after-becoming-largest-shareholder/

My dream job? 

(1) Musk circumvents poison pill, as passive investor, increases stake, and invokes acquistion of actual controlling shares
(2) Elon appoints me as CEO, and I go through TWTR offices like Sherman through Georgia.  1st policy change?  After reviewing company records , anyone found invoking any form of left wing censorship would be subject to a fireable offense.  I'd personally want to be with every  security guard as these f'ers box up their stuff, and get escorted out the building. 
(3) Executives found to be complict with democratic censorship and election tampering would get special law enforcement treatment, and records provided to congress.  Bypassing of DOJ and FBI would be essential
(4) Section within bleep  with neutral ideological intent would be established to enforce guidelines. Guiding principals would overly compensate to stay impartial.

I can dream can't I?