Hi HODLers,
Elon Musk disclosed today that he’s acquired a 9.2% stake in Twitter, sending the social media company shares up more than 28%.
This makes us look at his latest tweets in a very different way!
This one for example probably underlines one of the reason why he decided to make this move. He then tweeted after this one the following sentence: “The consequences of this poll will be important. Please vote carefully.”
Musk is asking for trouble with the SEC...
Elon's filing with the SEC show accumulation of Twitter common shares to March 14. The stake is passive, according to the financial disclosure.
The SEC mandates that anyone who acquires more than 5% of a company’s common shares disclose their holdings within 10 calendar days. Musk signed his filing 21 days after March 14.
Considering the history and ongoing issues between Elon and the SEC; this is definitely NOT a smart move...
Already a winning trade
He made more than $1.1bn in profit on this trade so far! Not that he truly cares about this small amount of money...
What is he going to do next is another question but he has been truly interested in Web3 Social app as he even throught to launch his own at one time.
I guess he will make the management of Twitter accountable of this free speech ideal. He has been vocal about not liking Jack Dorsey's replacement Parag Agrawal.
As he tweeted the picture below.
A lot more drama incoming and maybe for once, tech companies will have some of their own medicine and have to admit, there are other individuals that do not think alike... This is a trend that is increasing in the Tech industry as we have seen with Coinbase CEO recently.
I could sum it up as: You are paid to work, not to be the social justice police".
WEN ProjectBlank?
Stay safe out there,
