IT House reported on April 5 that Twitter will appoint Musk as a member of the board of directors. Twitter has soared before the market and is now up more than 5%.
Twitter will appoint Tesla CEO Elon Musk to its board of directors, according to filings with the U.S. Securities and Exchange Commission, The Verge reported. Musk will serve as a secondary director until 2024.
IT House has reported that yesterday, the US Securities and Exchange Commission disclosed documents showing that Tesla CEO Elon Musk holds a 9.2% stake in Twitter. After that, Twitter’s pre-market trading volume rose, and its stock price rose more than 26%.
Regulatory filings show that Musk had been accumulating Twitter common stock, which is a passive investment, until March 14. At present, Musk has become the largest shareholder of Twitter.
Musk also tweeted this morning asking other users “if they want an edit button.”
Some analysts believe that Musk may try to take a more aggressive stance on Twitter.
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