Elon Musk Gold, shares up 9.2% for Twitter investors

Twitter investors can thank Elon Musk, the social media company that has been confused by conflicting freedom of expression policies and turned from an active user to the company’s largest partner.

It’s been less than two weeks since the so-called “free speech perfectionist” took a 9.2% stake in the social media site. This month, Twitter shares have risen nearly 17%, while the S&P 500 has fallen 2%.

Ticker Security Last Change Change%
TWTR TWITTER INC. 45.85 +1.37 + 3.07%
SP500 S&P 500 4446.59 +49.14 + 1.12%

Since the shares were unveiled, Musk has kept Twitter management and Wall Street investors eager to learn more about his plans for their company.

On Thursday, you can get some tips on what’s next. Musk will be interviewed by Chris Anderson, president of TED conferences, and his next possible move could be mentioned on Twitter, which already adds a formal timeline.

Elon Musk partner faces lawsuit over delay in Twitter issue

January 31: Musk begins to buy shares in Twitter

One step 13D Filed Musk bought Twitter shares in cash between January 31 and April 1, with the Securities and Exchange Commission. Purchases ranged from $ 32.80 per share to $ 40.30 per share. In total, he bought 73.5 million shares for about $ 2.9 billion.

March 14: Kasturi reaches 5% limit and shares must be disclosed

The SEC requires recipients of more than 5% of a company’s common stock to issue their shares within 10 calendar days. 13D filing Musk seems to have crossed the 5% limit on March 14th, but he did not issue shares until April 4th.

Elon Musk cancels Town Hall with Twitter staff as Twitter board seat dwindles

March 25-26: Musk invites Twitter to free speech

On March 25, Musk tweeted a poll asking his followers if Twitter “strictly adheres to free speech policies.” 70.4% voted no and 29.6% voted yes.

A day later, he asked his followers what they needed to do to fix the situation and the possibilities of starting a new site.

April 5: Twitter Musk’s team announces appointment

On April 5, a day after the news of Musk’s 9.2% stake was announced, Twitter CEO Barack Agarwal announced plans to appoint Musk to the company’s board.

“I’m delighted to share that we are appointing @elonmusk to our team! Through conversations with Elon in recent weeks, it has become clear to us that he will bring great value to our board,” Agarwal tweeted. “He’s an ardent believer and an ardent critic of the service, which is what we need on wTwitter, and in the team room, to strengthen us for a long time. Welcome to Elon!”

Responding to the tweet, Musk said, “I look forward to helping the board make significant improvements on Twitter in the coming months.”

Elon Musk, though not a board member, makes a lot of noise on Twitter

April 6: Kasturi signals that he can play a more active role on Twitter

On April 6, Musk filed 13D with the SEC, outlining specific details about his Twitter share purchase and suggesting that he could play a more active role on Twitter. The stock was initially issued on 13G, which is generally reserved for passive investors.

It also stressed that he would not be allowed to hold a 14.9% stake in Twitter while working on the board or after 90 days. The filing marks the end of Muskin’s board term at Twitter’s 2024 annual meeting.

April 9: Kasturi rejects board seat

On April 9, Musk announced that he had refused to join the Twitter team in a new update on his 13D filing. The filing identified several ways in which he could influence Twitter.

The lawsuit alleges that Musk engaged in discussions with Twitter’s team or board, including “possible business mergers and strategic alternatives, business operations, capital structure, management, management,” strategy or matters related to him. Musk can “communicate his views directly to team members or executives” and / or to the public through social media or other channels. [Twitter’s] Business, products and service delivery. “

“Elon’s appointment to the board was officially 4/9, but that morning Elon shared that he was no longer going to join the board,” Agarwal said in a note to staff and in a follow-up tweet on April 10. “I believe this. The better.”

Although the filing notes warn Musk that “there are no current plans or objectives, it will not result in or be relevant to any of the transactions described”, “the plans may change based on a number of factors, including the relative attractiveness of alternative business and investment opportunities”. “

Moving forward, Wedbush Securities analyst Dan Yves hopes that Musk will be ready for a “game of drones”-style war against Twitter, saying, “Elon is more likely to take a more hostile stance towards Twitter and further develop his active role in the company.”

“Kasturi is no longer a member of the Twitter team, 1) joining a private equity partner and forcing major strategic changes on Twitter and / or selling, 2) leading to a number of scenarios including creating more noise and anger for the Twitter board / executives. With various proposed platform changes, or 3 “Is he going home after lowering his stake in” Game Over, “Ives wrote in a note to clients on Monday. “In our opinion, its 1 or 2 lanes along the street now focus on Musk’s next poker (next file / share on Twitter). This soap opera is going on between Elon and Twitter.”

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The Muskin Dead Dog is expected to take place Thursday at 11:45 a.m. and 2:30 p.m.

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