Why Shares of Twitter Are Rising Today
After a big day yesterday in which its stock rose 27%, Twitter (NYSE: TWTR) is once again moving higher today. Shares had risen as much as 9.5% in pre-market trading but gave back much of those gains and were up about 3.3% as of 10:38 a.m. ET on Tuesday.
Shares went flying yesterday after filings from the Securities and Exchange Commission (SEC) showed that Tesla founder Elon Musk had taken a 9.2% passive stake in the company. Today, SEC filings showed that Musk will join Twitter's board of directors, signaling that he could play a role in shaping the future of the social media giant.
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Source Fool.com
