- The stock on Twitter rose by 10% on Tuesday after Elon Musk was appointed to the board of directors.
- Tuesday's gains in Twitter stocks have increased since Monday's 27% surgery after Musk disclosed 9% of the communications company.
- Regarding his board appointment, Musk agreed to reduce his Twitter account to 14.9%.
The stock on Twitter rose by 10% on Tuesday after a media company appointed Elon Musk to its board of directors.
Musk disclosed 9.2% of the shares on Twitter on Monday, which helped send shares up 27% in Monday's trade. In his agreement to join the Twitter board of directors, Musk also agreed to reduce his Twitter stake to 14.9% of the company, according to the SEC.
Twitter CEO Parag Agrawal said, "I'm glad to share our appointments with @elonmusk on our board! - @ Twitter, and on board, to make us stronger in the long run. Welcome Elon! "
Responding to Agrawal, Musk said, "I look forward to working with the Parag & Twitter board to make significant improvements to Twitter in the coming months!"
One of Twitter's most important changes to Musk allows the edit button, a feature that users long to be able to edit tweets after publishing them to correct typos. Musk posted a vote on Twitter on Monday evening on the issue, with 74% of the nearly 3 million votes saying they preferred the edit button.
But much of Musk's criticism of Twitter over the past few weeks and months has been the processing of certain accounts that allegedly violated Twitter policies. Twitter is considered a public forum by many online, so researching certain accounts is often widely criticized. One such suspended account belongs to former President Donald Trump, although he now prefers media coverage instead of tweets.
Twitter stock has risen 35% since the start of the week. Since it became public in 2013, Twitter stock has only increased by 11%. That’s a long way from its social media peers like SnapChat and Meta Platforms, which have increased by 60% and 392% at the same time, respectively.
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Courtesy Grizler.com
