Yesterday, everybody’s (least) favourite billionaire CEO made himself the only largest outdoors shareholder of Twitter (NYSE: TWTR).
However what are Elon Musk’s plans with the positioning that appears to be his favourite pastime?
“Twitter is Elon Musk’s playground”
We requested MyWallSt Monetary Analyst Michael O’Mahony for his ideas:
“As we all know, Twitter is Elon Musk’s playground wherein he likes to sow discord, transfer markets, and profess his inside ideas to his military of 80 million followers. Nonetheless, that doesn’t imply he’s proud of the platform, which has gotten him into loads of sizzling water previously. Only a week after asking “Is a brand new platform wanted?”, the information of him accumulating a major stake within the firm is bound to make shockwaves as traders and commentators alike will unravel the potential his presence could have on the enterprise.
Is the close to $3 billion buy — which amazingly solely accounts for roughly 1% of Musk’s internet price — a gateway for him to bestow extra affect on considered one of his favourite pastimes? Or is it simply one other in a protracted line of seemingly random and chaotic chess strikes of a bored megalomaniac who desires to see the manifestation of his personal energy?
For Twitter shareholders, it in all probability isn’t a nasty factor that one of many world’s most profitable creators of worth has grow to be invested within the success of the corporate. Nonetheless, I’m positive it’s going to include its justifiable share of complications and headlines too. Contemplating the inventory has been stagnant since its IPO in 2013, any shake-up like this ought to be welcome.”
Given the variety of polls that he has posted these days in relation to the platform’s algorithm and coverage, it appears extremely possible that Musk intends to make adjustments over at Twitter HQ.
For higher or worse? It could be too early to inform.