Elon Musk Snapped Up a 9.2% Stake in Twitter, Spurring Share Price Hike

The entrepreneur criticized the social network’s failure 'to adhere to free speech principles' just 12 days later

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Mega-entrepreneur Elon Musk and Twitter had a bit of history before Musk’s purchase of 9.2% of the company’s stock March 14.

Musk filed a Schedule 13G form with the Securities and Exchange Commission March 14, declaring his purchase of 73,486,938 Twitter shares. The filing did not disclose the motive behind the transaction.

Investors must disclose purchases of more than 5% of a company’s shares to the SEC, but stakes of under 10% are considered to be passive.

“I think he intends to go active and force change at Twitter,” Wedbush Securities tech analyst Dan Ives told CNN Business.

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