World's richest man Elon Musk buys Twitter

Chloe Mayer (Newsweek, 4/25/22); Sheldon S., Seth Auberon (eds.), Wisdom Quarterly

Tesla Motors CEO Elon Musk speaks at "Cyber Rodeo" in Austin, Texas, on 4//22 (Getty)

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Twitter stock surges as Elon Musk takeover appears imminent

Now ex-g/f Grimes may get decent lodgings.

Twitter shares surged before the market had even opened on today (Monday, 4/25), amid mounting speculation that the SpaceX and Tesla multi-billionaire Elon Musk could be successful in his bid to do a hostile takeover of the company. 

Shares jumped about 5 percent to just over $51 in premarket trading, pointing to possible gains when the market opens later today. That figure is still below the Tesla boss's proposed price of $54.20, which is typically viewed as a sign that shareholders are skeptical that a deal will take place.

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However, on Friday, the day after Musk confirmed he had [multiple bank] financing in place, the shares closed up around 4 percent at $48.93, so the consistent increases could be interpreted as growing confidence that Musk's takeover bid will succeed.

Twitter's stock has been volatile this month as investors followed each twist in Musk's attempt to buy the company for $43 billion. The Wall Street Journal reported on Monday that... More