Posted on 02/29/2020 5:51:11 PM PST by bitt
A major Republican donor has purchased a stake in Twitter and is reportedly seeking to oust its chief executive, Jack Dorsey.
Bloomberg News first reported that Elliott Management has taken a “sizable stake” and “and plans to push for changes at the social media company, including replacing Dorsey”.
Paul Singer, the billionaire founder of Elliott Management, is a Republican mega-donor who opposed Donald Trump during the real-estate magnate’s run for the presidential nomination but has since come onside.
After a White House visit in February 2017, Trump said Singer “was very much involved with the anti-Trump or, as they say, ‘Never Trump’, and Paul just left, and he’s given us his total support and it’s all about unification”.
Trump famously communicates with the public largely through Twitter, at the expense of traditional media strategy.
Twitter made headlines in October when it announced a ban on political advertising. Its use and potential manipulation by politicians of all stripes, from Trump to Democratic candidate Mike Bloomberg, remains a source of fierce contention.
Dorsey, a co-founder of Twitter, is also chief executive of Square, an online payment company. In November, he announced a plan to live and work in Africa for part of each year.
(Excerpt) Read more at theguardian.com ...
Only 2 percent? Wow.
Thanks :)
FINALLY!!
oh and to answer your other question about the drop in the market..before this huge drop I missed out on $250k on TSLA because I hesitated to buy puts when I knew I should buy based on option activity. If I had had another day I probably would have bought them..but timing is everything.
I am not over it yet. And thus, haven’t capitalized on the drop like I should. I have to shake it off. I can barely even type about it I am still so hacked off.
So yes I made money..but not killing it. Have to get my head back in the game
Great news...
Well if you’re talking 250k that means you had a very sizable amount to venture with and overall you must have a VERY sizable amount of net worth and I am Very Happy for you.
You are a good person and deserve it.
As for the eating at ya...boy I know, I once missed a 2500 percent ONE DAY move in options!! I sold them for 50 percent profit but had just started trading and messed up by exiting WAY EARLY.
Paid 5 bucks for each and at intraday’s peak they were worth 300 bucks.
Hail Mary last trading day that also happened to be earning day for Micron, I believe.
The pain fades over the days as we both know and I KNOW you will nail it again AND again on other trades.
But it is painful and I am sorry.
The great part is there’s always another day to be in the game!
I personally know around 6 conservatives who work at Twitter here in L.A. they always believed that some RICH GOP guy will buy a majority stake and I laughed at them . It’s not all hell at Twitter as Trump had Dorsey at the WH more than a few times and word is that Trump threatened him if he ever banned his account lol
Maybe Twitter will become reasonable. Zuckerberg has finally started to take a stand against the neo Puritan thought police.
I think the DOJ will have to take down Alphabet for antitrust. They’ve always been the worst and most dangerous.
They're a publicly traded company. How are they going to stop him?
I thought there were some types of laws against cornering a market?
You have to buy an awful lot of a company’s stock to have a sizable stake.
I guess it’s fine. What do I know? :)
“You know, as much as I have traded stocks, and not that well over 30 years lol, I don’t really know how one goes about buying a large chunk of a corporation’s stock. Just keep accumulating?”
yep. buying on the open market, though at some percentage of ownership i think you have to make some kind of FEC filing acknowledging that you’re buying up a whole shitpile of stock and what your intent is in buying so much, etc. ...
Gotcha.
That makes sense. Thanks.
Look at Tsla Action from February 4 to February 5. It didn’t take a lot of capital if you were willing to assume the risk. And while I was thinking about it because TSLA is such a Viper of a stock......too late.
Someone came in a bought a lot of puts. Alerted by a hedge fund guy I watch.
And the puts got quite a bit cheaper than where they bought.I almost pulled the trigger but got a phone call that I had to take care of..and then decided to wait.
Oh well..
Think Paul Ryan with money.
Wow imagine that...
Say what you want about Twitter, but it has revolutionized communication. It is the modern version of the printing press.
There will be opportunities on the way up for many stocks after this thing blows over.
I shied away from gold futures and options because I just didn’t see a strong reaction to the illness.
Gold usually rockets in these situations. It has not.
As for trading, it can make one feel on top of the world or way at the bottom. Sometimes in the same day.
The highs and lows i’ve known rival that of romances.
The one thing I missed was Mr 50 cent guy. He comes in and buys the VIX for around 5o cents..and usually makes a killing.I think he did this time,too, but I missed his buy.
I love twitter. You get a lot of BS but when you want fast news I go to twitter.
And there are some great people I follow to get info on various topics.
For example, one guy I watch posts option trends. Another posts sports trends like:
“Gonzaga has won 38 straight home games and is the favorite given a 90.9% chance to beat Saint Mary’s “
I love the meme of what would you post on twitter to alert people you have been kidnapped without the kidnapper understanding.
You see all kinds of answers...
WOW is that true in the big picture.
But I could have sold a portion of my puts on the stock’s way down...but I’ve always been an all or nothing person.
That’s why at 51 I’m in a lot of trouble at retirement :)
I can’t live past 71 1/2 according to my retirement calculator :)
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