Elon Musk Buys 9.2% Stake in Twitter, Shares Soar

Twitter (NYSE:TWTR +26.15%) stock is surging in early morning after hours trading after the company disclosed in US SEC (Securities and Exchange Commission) filings that Elon Musk has taken passive stake of ~9.2% in the social media company.

Twitter shares were trading up 26.15 per cent to $49.48 per share in pre-market trading.

The filing discloses that Musk currently owns 73,486,938 shares of common stock.

Musk has been critical of Twitter, recently tweeting if users believe that the platform adheres to principle of free speech. Musk earlier tweeted that he is giving “serious thought” to building a new social media platform.

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