Elon Musk takes 9.2% stake in Twitter, shares surge 25%
Andrew Burton/Getty Images News


Twitter (NYSE:TWTR
+24%) is trading higher in morning hours after disclosing that Elon Musk has taken passive stake of ~9.2% in the social media company.
Elon Musk Revocable Trust of which Elon Musk is the sole Trustee holds 73.48M common shares of Twitter (based on 800.6M common shares as of February 10, 2022 as reported in the Issuerâs Annual Report on Form 10-K for the year ended December 31, 2021).

Muskâs intentions will be scrutinized after his criticism of the company on its own platform.
On March 27 Musk tweeted: âGiven that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?"
Peer Snap (SNAP) jumped 2.9%, while Meta Platforms (FB) briefly rose 0.8% in the premarket session.
Dig deeper into the Street's speculation about Elon Musk and social media platforms.