Twitter's stock soared by more than 25% in pre-market trade on Wall Street Monday, after Tesla boss Elon Musk took a major stake in the social media company.
According to a document filed with the US Securities and Exchange Commission , Musk acquired nearly 73.5 million Twitter shares - a 9.2% stake in the company.
In summer 2018 he published a tweet where he claimed that he had the appropriate funding to privatize Tesla, without providing proof of this. The mogul then agreed that any tweets capable of moving Tesla's share price would be screened by lawyers, as part of a deal that saw him pay $20 million to settle a fraud case brought by the SEC.
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