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Actions of Twitter up 7.94% after hedge fund investing news Hindenburg Researchwhich he now claims to have “accumulated a significant stake in Twitter shares”. In recent days, also, Twitter had denounced Elon Musk in order to convince him to carry out the acquisition of the social network for 44 billion dollars, announced last April. The CEO of Tesla and of SpaceXas known, he had decided to blow the bank due to differences on the actual number of spam bot account active on the platform.
Legal action Twitter a credible threat to Musk’s empire
With some thinking that Musk from the start only tried to destabilize Twitter and was never actually interested in acquiring the social network, now the lawsuit could represent a “boomerang” very dangerous for Musk. Hindeburg in fact defines it as one “credible threat” to the Musk empire.
Hindenburg founder, Nate Andersontold the Financial Times that Musk “he squandered much of his influence, largely through reckless and compulsive tweets” and ruled out that Musk’s position is based on concrete evidence, namely that Twitter actually has too many fake accounts.
Hindenburg is not just any hedge fund. While he previously held a short position on Twitter, he had already stated in May that Musk’s offer could suffer a further downside if he pulled out of the deal. Last year, Hindenburg also established short positions in DraftKings and in electric vehicle manufacturers Lordstown Motors And Nikola. Since then Nikola’s founder was charged with fraud, the Lordstown CEO resigned amid a SEC investigation claiming the company had misled investors and DraftKing’s shares plummeted by more than 80% after Hindenburg took over. revealed that the sports gambling company has links to the black market.
“There are so many companies operating outrageously”Anderson told the New York Times last year after he first identified the $ 1 billion hedge fund Platinum Partners fraud case.
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