Latest updates
Wednesday, November 9: Twitter stock has been delisted after Musk completed his buyout of the company. All Twitter shares are now owned by Musk (through his company X Holdings I), and the stock is no longer available to be publicly traded.
Tuesday, October 4: Musk has agreed to buy Twitter at the previously agreed upon price of $44 billion ($54.20 per stock). Twitter stock jumped 21% a day after the announcement was made, closing at $52.00. The move ends Twitter’s lawsuit against Musk for backing out of the buyout—just 2 weeks before the case was scheduled to be decided in court.
Monday, May 16: Twitter stock dropped another 7% today to $37.80/share, meaning Twitter’s market value has dropped over $10 billion from what Musk agreed to pay for the company. Investors are dumping the stock largely due to regulatory concerns.
Friday, May 13: Musk announced that his Twitter deal is on pause until he has more information on how many fake accounts exist on the platform. He later tweeted that he is still committed to the deal. This took place before market open, and Twitter stock dropped 18% in premarket trading shortly after. Shares closed down 9.7% today.
Tuesday, April 26: What does Musk’s acquisition of Twitter mean for shareholders? You can currently still trade TWTR. However, between now and its potential de-listing, the price is expected to be volatile. If you buy the stock for more than $54.20 per share (Musk’s agreed-upon acquisition price) you could face a loss.
Monday, April 25: A deal has been struck for Elon Musk to acquire Twitter for $44 billion. The next step is for shareholders to vote to approve the deal. If the deal goes through, Twitter stock will be purchased from the shareholders at $54.20 per share, and Twitter will become a private company.
Monday, April 18: Musk made a US$43 billion cash buyout offer to take Twitter private. In response, Twitter’s board has enacted a shareholder rights plan, also known as a poison pill, that would offer shares to the public at a discount if any single person tries to purchase more than 15% of the company without the board’s approval. This would prevent Elon Musk, who has been highly critical of the board, from taking over the company without the board’s approval. Twitter stock is up about 15% since Musk’s 9% stake was announced.
Thursday, April 14: Elon Musk has made a bid to buy Twitter for $54.20 per share. If the deal happens, Twitter could become a private company. There’s no news yet on whether a deal will happen.
Monday, April 11: Tesla founder Elon Musk, who became Twitter’s largest shareholder last week, won’t be joining its board after all. Twitter CEO Parag Agrawal tweeted the news last night, saying “we will remain open to his input.”
Tuesday, April 5: Twitter stock rallied for a second day today on word Tesla founder Elon Musk would join its board. The stock was up as much as 7%, but did slip back this afternoon.
Monday, April 4: Twitter stock is surging by as much as 25% today after an SEC filing revealed Tesla founder Elon Musk had purchased a 9.2% stake in the company. It’s not clear what, if any, role Musk might seek in Twitter’s operations, but he has been a critic of the social-networking site.
