Investing.com - Twitter jumps 25% to $43.19 in pre-market trading on Monday after the Tesla (NASDAQ:TSLA) CEO acquired a 9.2% stake in the social media giant.
According to an SEC filing, Elon Musk bought about 73.5 million of the company's 9.2% total shares in Twitter.
The founder of Tesla has criticised the social media company several times for its latest policy changes. According to the Silicon Valley tycoon, these changes do not guarantee freedom of speech.
In the past, Musk has also been sanctioned by the SEC for his use of social media, through which, according to the US regulator, he allegedly broke the rules by recommending or disclosing transactions on his Tesla Inc. shares.