SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    Elon Musk buys 73 million shares of Twitter, becomes largest stockholder
Page 1 2 3 4 ... 58
Go
New
Find
Notify
Tools
Reply
  
Elon Musk buys 73 million shares of Twitter, becomes largest stockholder Login/Join 
Get Off My Lawn
Picture of oddball
posted
..approx. 9.2%.

Like Trump, Tusk has a torrid history with Twitter, and is very critical of social media in general. I have no idea if this will shake things up, but before this, I had no idea he is the richest man in the world today.

https://www.bloomberg.com/news...questioning-platform



"I’m not going to read Time Magazine, I’m not going to read Newsweek, I’m not going to read any of these magazines; I mean, because they have too much to lose by printing the truth"- Bob Dylan, 1965
 
Posts: 14835 | Location: Texas | Registered: May 13, 2003Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
This is good news.

According to a regulatory filing this morning, Musk disclosed he has bought 73.5 million shares in the social media giant. In this filing, he designated the purchase as a passive investment, meaning he plans to hold the shares long-term.

ABC reported that investment advisor Dan Ives sent clients a memo early this morning saying, “We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter.”

Recently Musk has been extremely critical of Twitter’s censorship. The market seems to like the news, since shares have already surged 25%, also meaning Musk immediately made a ton of money on the buy.



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 21582 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Why don’t you fix your little
problem and light this candle
Picture of redstone
posted Hide Post
A few weeks ago he posted a tweet that stated that as important as twitter is it seemed to be attacking the concept of free speech. and then posed the question, what should be done? One of the most favorited responses was "buy twitter"


Apparently he is doing just that.



This business will get out of control. It will get out of control and we'll be lucky to live through it. -Rear Admiral (Lower Half) Joshua Painter Played by Senator Fred Thompson
 
Posts: 3320 | Location: Central Virginia | Registered: November 06, 2006Reply With QuoteReport This Post
I swear I had
something for this
posted Hide Post
I use to call him the John DeLorean of the 21st Century, but I have to admit he’s proving me wrong by a large margin.

Now just make a cheaper Tesla with the gague cluster in front of the steering wheel.
 
Posts: 3228 | Location: Kansas City, MO | Registered: May 28, 2004Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by chellim1:
This is good news.





I disagree. Twitter needs to go and this prolongs it.
 
Posts: 508 | Location: Puerto Rico | Registered: October 11, 2020Reply With QuoteReport This Post
Member
Picture of sigcrazy7
posted Hide Post
quote:
Originally posted by Hildur:
quote:
Originally posted by chellim1:
This is good news.





I disagree. Twitter needs to go and this prolongs it.


No. If Twitter disappeared, something similar and just as biased would replace it. Better to attack it from within. Good for Musk. I bet Twitter will think long and hard about banning, or even shadow banning, Musk now.



Demand not that events should happen as you wish; but wish them to happen as they do happen, and you will go on well. -Epictetus
 
Posts: 7825 | Location: Utah | Registered: December 18, 2008Reply With QuoteReport This Post
Partial dichotomy
posted Hide Post
I'm impressed and thankful. Musk is exceeding all our expectations.




SIGforum: For all your needs!
Imagine our influence if every gun owner in America was an NRA member! Click the box>>>
 
Posts: 36929 | Location: NW Indiana | Registered: November 22, 2002Reply With QuoteReport This Post
Official forum
SIG Pro
enthusiast
Picture of stickman428
posted Hide Post
I wish he would buy Facebook and then deleted it. Cool

Musk joked about doing that a while back.

I was wrong about Musk. I believe this is a very clever move to influence Twitter from within and hopefully improve it.

Having built my first electric vehicle I am starting to realize why he likes those too. Big Grin


~~~~~~~~~~~~~~~~~~~

The price of liberty and even of common humanity is eternal vigilance
 
Posts: 19862 | Location: North Carolina  | Registered: April 16, 2007Reply With QuoteReport This Post
Member
Picture of Jimbo Jones
posted Hide Post
This is great news. He does not yet have a board seat but I suspect he will demand one soon, if not now but after he buys more stock.

He needs to put a leash on the woketard CEO that replaced Dorsey, Parag Agrawal. This guy is dangerous...

“Our role is not to be bound by the First Amendment, but our role is to serve a healthy public conversation, and our moves are reflective of things that we believe lead to a healthier public conversation,” Agrawal said.

“The kinds of things that we do about this is: Focus less on thinking about free speech, but thinking about how the times have changed,” he added.

While "free speech" and the First Amendment are fairly cut and dried, almost black and white concepts, but things that promote a "healthier public conversation" are very subjective. Agrawal clearly wants to be the arbiter of what constitutes "healthy conversations" and censor speech the libcunts at Twitter dont like, even more so than bizarro Dorsey did.


---------------------------------------
It's like my brain's a tree and you're those little cookie elves.
 
Posts: 3625 | Location: Cary, NC | Registered: February 26, 2013Reply With QuoteReport This Post
Fire begets Fire
Picture of SIGnified
posted Hide Post
Cool





"Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty."
~Robert A. Heinlein
 
Posts: 26232 | Location: dughouse | Registered: February 04, 2003Reply With QuoteReport This Post
Big Stack
posted Hide Post
I don't think Musk is doing this for the "Public Good." Twitter, despite it's high profile and wide use, has been something of a dumpster fire from a business perspective. A quick look at the stock shows negative EPS, so it's losing money. Musk may try to get control of it, whip it into shape, pump up the stock price and sell for a profit.
 
Posts: 21039 | Registered: November 05, 2003Reply With QuoteReport This Post
Member
posted Hide Post
Occam's Razor gentlemen.

TWTR 52 week high was $73.34. Close of business yesterday the price was $39.41. It up around $10 today (although that probably wont last, just a temporary reaction to the news of Musk's position). At 73.5 million shares that is a profit of at least $730 million - nearly 3/4 of a billion dollars - just today. Probably more depending on his actual purchase prices.

His SEC filing says he bought the stock as a passive investment only.

He saw this as a profitable investment opportunity, not to take over the world. You can never have enough billions.
 
Posts: 379 | Location: The Sun & Fun Capital of the World | Registered: May 03, 2015Reply With QuoteReport This Post
Get my pies
outta the oven!

Picture of PASig
posted Hide Post
Musk may trying to be making some money, but there may be another motive here too

Newsmax guy Benny Johnson's take on all this:

quote:


Benny
@bennyjohnson

My prediction:

Twitter reinstates the @TheBabylonBee today.


Twitter reinstates @charliekirk11 this week.


Twitter reinstates @RepMTG next week.


Trump gets brought back by the end of the summer.

Panic.

9:28 AM · Apr 4, 2022·Twitter for iPhone


Link


 
Posts: 31251 | Location: Pennsylvania | Registered: November 12, 2007Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
Originally posted by BBMW:
I don't think Musk is doing this for the "Public Good." Twitter, despite it's high profile and wide use, has been something of a dumpster fire from a business perspective. A quick look at the stock shows negative EPS, so it's losing money. Musk may try to get control of it, whip it into shape, pump up the stock price and sell for a profit.

Of course he's doing it to make money.
But recently Musk has been extremely critical of Twitter’s censorship. If it also serves to reduce or eliminate Twitter’s censorship it benefits those who believe in free speech.



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 21582 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
"Member"
Picture of cas
posted Hide Post
He should sell quick.

Then buy it again in a couple months. Repeat as warranted. Destabilize the whole thing.
 
Posts: 19961 | Location: 18th & Fairfax  | Registered: May 17, 2003Reply With QuoteReport This Post
come and take it
posted Hide Post
quote:
Originally posted by Jimbo Jones:
This is great news. He does not yet have a board seat but I suspect he will demand one soon, if not now but after he buys more stock....


Heck he can steer the company without board seat at this point. He is the largest shareholder. All he has to do is send out a tweet to his 80 million followers, criticizing whatever he doesn't like about the company... Can you imagine the gyrations of the board?

If he is not happy with that route he can certainly get a board seat and make moves.

Elon's investment in Twitter is up $630 million today. Just one day in my life I would like to experince what that is like!




I have a few SIGs.
 
Posts: 1729 | Location: Texan north of the Red River | Registered: November 05, 2003Reply With QuoteReport This Post
Member
posted Hide Post
Capitalism at work, the market always finds the right balance, when it's allowed to work.

Twitter needs to shed a few bodies, starting with Agrawal.
 
Posts: 13065 | Location: Wine Country | Registered: September 20, 2000Reply With QuoteReport This Post
Get Off My Lawn
Picture of oddball
posted Hide Post
quote:
Originally posted by sigcrazy7:

If Twitter disappeared, something similar and just as biased would replace it. Better to attack it from within.


Yep, rather than try to create another platform to compete with something so popular, just buy the damn thing; after all, he is the richest man in the world.

A Bruce Wayne move in real life Cool



"I’m not going to read Time Magazine, I’m not going to read Newsweek, I’m not going to read any of these magazines; I mean, because they have too much to lose by printing the truth"- Bob Dylan, 1965
 
Posts: 14835 | Location: Texas | Registered: May 13, 2003Reply With QuoteReport This Post
Get my pies
outta the oven!

Picture of PASig
posted Hide Post
Wasn't Musk a Trump guy or at least Trump friendly?

Remember, China Joe and his handlers HATE Musk and continue to exclude him from WH meetings on electric vehicles incredibly enough so I'd imagine he'd be happy to see Trump back in the WH someday or someone like a DeSantis.

I still think there is much more to this than him trying to just make money, he's been very critical of Big Tech's censorship of conservative and dissenting voices the past few years.


 
Posts: 31251 | Location: Pennsylvania | Registered: November 12, 2007Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by PASig:
Wasn't Musk a Trump guy or at least Trump friendly?

Remember, China Joe and his handlers HATE Musk and continue to exclude him from WH meetings on electric vehicles incredibly enough so I'd imagine he'd be happy to see Trump back in the WH someday or someone like a DeSantis.

I still think there is much more to this than him trying to just make money, he's been very critical of Big Tech's censorship of conservative and dissenting voices the past few years.

I don't think he was a 'Trump guy' as much as he was a anti-Biden/Hillary guy. For many, Trump (and all his short-comings) was merely the strongest push-back against the authoritarian tendencies coming out of the Dems.

The Dems and the Left at-large, automatically associate you with 'the other' if you don't support their candidate, their water-carriers over at news media and entertainment parrot and amplify the message ergo, you get put into a box of their creation and comprehension. Similar to how many can't understand how you can be pro-vax but, anti-mandate; the eye's of the Lefties say Tilt.
 
Posts: 13065 | Location: Wine Country | Registered: September 20, 2000Reply With QuoteReport This Post
  Powered by Social Strata Page 1 2 3 4 ... 58 
 

SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    Elon Musk buys 73 million shares of Twitter, becomes largest stockholder

© SIGforum 2022