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.
