Tesla founder Elon Musk purchased 9.2% stake in Twitter and there can be huge rally in Twitter share price on Monday market.
Friday closing price of Twitter was 39.3 USD.
Now Twitter CEO Elon Musk owns 73.5 million shares of Twitter and he is the biggest share holder in Twitter.
In the last 2 weeks, he had expressed that he had some interests to start social media platform.
Twitter is World's biggest micro blogging social media platform. Most of the corporate companies uses Twitter to provide their updates rather than Facebook.
This is a big positives news for Twitter and negative news for Facebook (Trading as Meta Platforms).
Tesla founder Elon Musk is also one of co-founders of PayPal. He has practical experience in web technologies.
Twitter is currently 31.5 Billion USD but if Elon Musk actively participates in any activities of Twitter there is high possibility that Twitter may hit 50 Billion USD market cap in short span of time.
Elon Musk is not founder of Tesla but he also founder of SpaceX which sends private rockets to space and launches satellites.