Elon Musk recently said he’s ready to buy Twitter, and if he’s not allowed to do so, he will reconsider his position as a shareholder.
The news was spread over social media but one that gained my attention was seeing Twitter’s stock rise during the viral news.
Why did it arise?
And what does it matter?
At first, investors were not clear on what Tesla CEO wanted to do with Twitter, since he said he will make it a private company.
Secondly, no one could actually tell how Elon would finance the purchase.
Thirdly, because Elon has shown interest in buying Twitter, other potential admirers/buyers also came up, and this is what likely made Twitter’s stock price go up.
We wait for Twitter to reveal how this news pans out.