By Kuldip K. Ambastha
The stock price of Twitter, Inc. (TWTR), a microblogging and social networking technology (tech) platform, had a +22.2% per share increase on Tuesday, October 4, 2022, while the other four trading days showed negative daily returns. (See past coverage if needed: “What Caught Our Attention in the Investment World? – Week of November 29-December 3, 2021; By Kuldip K. Ambastha.”) Though the outcome is still uncertain due to funding, litigation, and other open issues, Elon Musk may proceed with his offer to purchase Twitter and convert it into a privately held company. Shares of Twitter were bid up because of this development, with investors seemingly eager to see what plans Musk may have in store for Twitter. Many commentators currently view Twitter as digital town square for the public, and one highly circulated rumor sees Musk restructuring Twitter into an everything app called X.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in TWTR.
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