Elon Musk admits his Twitter investment isn't passive and reveals that he began buying the stock in January

Musk began buying Twitter shares in January, and his stake is not a passive one

Elon Musk filed a new disclosure on his Twitter Inc. stake with the Securities and Exchange Commission on Tuesday, admitting that he invested in the company with the goal of effecting change and that his stock purchases began months ago.

The new filing requires more disclosure, and shows that Musk began accumulating Twitter stock on Jan. 31, with the purchase of more than 620,000 shares. Musk then purchased Twitter shares in every available trading session through April 1, with total daily shares purchased ranging from 371,075 on Feb. 15 to more than 4.8 million shares on Feb. 7.

The SEC requires that investors disclose when they have purchased more than 5% of a company’s stock on one of the two forms within 10 calendar days of hitting that threshold. Musk admitted on the first form he filed that he had passed that threshold on March 14 but did not disclose the purchases until April 4, missing the deadline by more than a week.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MarketWatch /  🏆 3. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla CEO Elon Musk takes a 9% stake in TwitterTesla CEO Elon Musk is taking a 9.2% stake in Twitter.
Read more »

Elon Musk Takes 9.2% Stake in Twitter Worth Almost $3BUPDATE: Musk has bought almost 73.49 million shares in Twitter, which would be worth $2.88 billion based on Twitter's last close. By parikshitm899
Read more »

Elon Musk buys large stake in TwitterNEW: Elon Musk has bought a 9.2% stake in Twitter, according to a regulatory filing released today. He criticized the company last month for 'failing to adhere to free speech principles.'
Read more »

Elon Musk buys 9.2 percent of Twitter amid complaints about free speech‘Is a new platform needed?’ he asked last month.
Read more »

Twitter shares soar more than 25% after Elon Musk takes 9% stake in social media companyTesla CEO Elon Musk has taken a big stake in social media company Twitter, a regulatory filing released Monday showed.
Read more »

Twitter shares jump as Elon Musk takes 9.2% stake in social media giantElon Musk has taken a 9.2% stake in social media giant Twitter, according to an SEC filing, as of March 14.
Read more »