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Hedge fund Elliott Management, which had pushed for changes in Twitter management in recent years, dropped the social media stock in the second quarter. Published filings show that the sale of the shares took place shortly after Elon Musk announced plans to buy the social media company for $ 44bn. As of June 30, Elliott had no more common shares on Twitter compared to approximately 10 million shares at the end of the first quarter.
Elliott invested in Twitter in early 2020 asking for the exit of Jack Dorsey, one of the company’s co-founders and who was still CEO of the company at the time.