Confusion Reigns Over Elon Musk’s Twitter Plan After Ditching Board
- Shares fell about 7% in pre-market trading on Monday
- Musk ended previous deal to keep stake at no more than 14.9%
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Twitter Inc.’s investors were left bewildered after Elon Musk decided not to join the company’s board, leading to a share price swing and increased speculation that the world’s richest person could mount a takeover of the social media platform.
Following discussions with management, Musk decided against joining Twitter’s board over the weekend, a dramatic reversal that also ends a previous agreement to keep his stake at no more than 14.9%.