According to the SEC document, Elon Musk bought a 9.2% stake in Twitter.
Musk purchased 9.2% of Twitter shares, according to an SEC document dated March 14. The development came after Musk’s recent discussions about whether Twitter should be open source. On March 24, Musk said:
“I am concerned that the actual bias in the Twitter algorithm is having a major impact on public discourse.”
Musk also criticized freedom of expression on Twitter and said he was considering creating an alternative platform. The billionaire also criticized Twitter’s NFT profile picture move in the past weeks and stated that the platform had more serious problems such as fake accounts.
Twitter’s shares increased by 25% after the news. Twitter rose from $39.31 to $49.06 when it was traded.
