Twitter Shares Increase 7% After Elon Musk Joins Board

 

Twitter shares were up 7% on Tuesday after Elon Musk was appointed to join the company's board of directors. 

After a series of interesting tweets about the social media platform, it came as quite a surprise when Musk announced he owned a 9.2% stake in the company. 

The stake is worth almost $3 billion, which sees the Tesla CEO become the largest shareholder. Not bad.😏

The appointment was revealed via an SEC filing.

The increase in Twitter's shares also comes after a 27.12% surge on Monday. So, not a bad week for them.

Elon Musk replied to the news tweeting, "Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!"

Elon Musk on Twitter: "@paraga Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!" / Twitter