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Hedge funds bet against Musk boosts Twitter shares

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Twitter shares have been given a boost following news that hedge fund Hindenburg Research has taken a stake in the firm on the basis that it sees a “strong case” against Elon Musk for moving to back out of his $44 billion buyout bid, according to AFP.

Twitter shares have been given a boost following news that hedge fund Hindenburg Research has taken a stake in the firm on the basis that it sees a “strong case” against Elon Musk for moving to back out of his $44 billion buyout bid, according to AFP.

The social media platform, which began legal action earlier this week to force Musk to complete his proposed take-over, saw its stock price jump 8 per cent in trading.

The report cites Hindenburg Research found Nathan Anderson as confirming that the fund has acquired a “significant” stake in Twitter, but less than the five per cent threshold that would trigger a filing with the US SEC.
 

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