Saturday, July 27, 2024

Elon Musk has been exploring the U.S. stock market before buying Twitter shares.

Date:

D + D – Normal size

The U.S. Securities and Exchange Commission revealed on Friday that Elon Musk was asked to clarify the reasons for the delay in buying his millions of shares on Twitter, in recent questions regarding his complex attempt to buy the site.

Musk became a major shareholder on Twitter after buying 73.5 million shares in early April, and two weeks later he was offered the chance to acquire the site.

Following this he signed a $ 44 billion deal to buy the San Francisco-based company, but he gave mixed signals about his commitment to the deal.

The Securities and Exchange Commission asked Musk in a letter to explain why he did not disclose the increase in his Twitter shares within the required ten days, especially if he planned to buy the company.

“Your response, among other things, is your recent public statements on Twitter, including the question of whether Twitter strictly adheres to the principles of freedom of expression,” the authority said in a letter to Musk on April 4.

Neither Musk nor the U.S. Securities and Exchange Commission responded immediately to a request for comment.

The Tesla boss often uses Twitter to post issues or controversial tweets about the general public, sometimes mood swings.

He previously clashed with the Federal Reserve, which attacked him for using social media in a failed 2018 attempt to turn Tesla into a private company.

Musk is also facing a lawsuit filed against him this week alleging that he lowered Twitter’s share price in order to escape his bid or open a window to negotiate a price cut.

See also  Brent crude fell after crossing $ 80 a barrel

Print
Email




Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

Embrace the Adventure: Discover Dubai’s Dune Buggy Tours

Introduction to the Dubai Dune Buggy Tour Buckle Up, Adventure...

Why Estonia is the Perfect Launchpad for Luxury Brands

The world of luxury fashion is synonymous with elegance,...

The Real Benefits of Being a VIP in the Online Casino Scene

Becoming a VIP can be a long process that...

The Evolution of Online Casino Bonuses: Trends and Future Predictions

Online casino bonuses have transformed from basic sign-up offers...