The week on Wall Street began with the sensational news of Elon Musk’s raid on the Twitter capital. Tesla’s number one histrionic acquired a 9.2% stake in Twitter, valued at around $ 3 billion, becoming its largest shareholder. “This is a significant public step in diversifying its investments, away from major holdings like Tesla and SpaceX, which triggered a spike in Twitter’s share price, and focused attention on the entire social media sector that suffers. for some time, from Meta to Snapchat “, comments Ben Laidler, eToro’s global markets strategist.
Warren Buffett famously encourages investing in “what is known”, and Elon Musk knows Twitter very well. “He has 80 million followers on the platform, has done more than 17,000 tweets since he joined in 2009, and recently publicly criticized the company for its free speech policy,” Laidler remarks, adding: “It remains to be seen what he thinks. Musk of his stake, which is four times the size of founder Jack Dorsey. Twitter only recently saw Dorsey step down as CEO in November last year, under pressure from famed activist investor Elliott Management. “