Posted on 04/14/2022 1:41:06 PM PDT by BlackFemaleArmyColonel
While Elon Musk is trying to buy Twitter Inc., he’s no longer the company’s largest shareholder.
Funds held by Vanguard Group recently upped their stake in the social-media platform, making the asset manager Twitter’s largest shareholder and bumping Mr. Musk out of the top spot.
Vanguard disclosed on April 8 that it now owns 82.4 million shares of Twitter, or 10.3% of the company, according to the most recent publicly available filings with the U.S. Securities and Exchange Commission.
The asset-manager increased its stake in the company at some point during the first quarter, according to the filings. Vanguard’s holdings are now worth $3.78 billion, based on Twitter stock’s closing price on Wednesday.
That’s enough to knock Mr. Must off the perch as Twitter’s largest shareholder, according to FactSet.
Vanguard isn't making a directional bet on Twitter. Instead, the majority of its assets are in index and other so-called passive funds. The firm often sides with management on voting issues and doesn’t advocate for changes like a hedge fund or activist investor might.
Mr. Musk initially disclosed a stake in Twitter earlier this month of almost 73.5 million shares, but a day later his disclosed stake dropped to 73.1 million shares, or 9.1% of the company. The position momentarily made him the largest shareholder in the company.
Vanguard previously reported owning 67.2 million shares of Twitter or about 8.4% of the company as of the end of December, according to FactSet.
Vanguard declined to comment.
Mr. Musk along with former Twitter Chief Executive Jack Dorsey, who is number seven on the list, are the only individuals among the top 10 shareholders in the company.
The rest of the spots are occupied by financial institutions.
(Excerpt) Read more at wsj.com ...
Is this the right time to have a run on twit stock?
BFD
Elon has the ability to sell every bit of stock he owns in Twitter.
Vanguard Group would be crushed by investors, shareholders and the ensuing lawsuit if they tried to sell off twit...
Elon’s in this for the LOLs. I think he enjoys everyone associated with Twitter uncomfortable.
I think you’re right. The most that can happen is that he gets sued....and money is no0 object.
TWITTER BOARD WEIGHING PLAN TO THWART MUSK’S TAKEOVER PLAN: NYT
One wonders if Musk is somehow trolling or green-mailing them
He announces his bid - and suddenly, the Crown Prince of Saudi Arabia and Vanguard announce THEY are the largest shareholders.
Multi-culti vampire squid globalists are defending their turf.
Watch Blackrock increase its stake as well.
Its really the least they could have done to thank Elon for making them billions of dollars for having to do nothing.
But they don’t own them, the people that buy the Vanguard funds do.
“Is this the right time to have a run on twit stock?”
**********
I’m thinking this is not the time to run with the big dogs. I’m staying on the porch…
Wonder if a Gamestop type crazy thing is about to happen with Musk at the helm. Driving the price crazy high as they try to defend it from Musk, or something like that.
Now we KNOW who is trying to enslave us. Folks ought to get their money out of Vanguard shares at least.
If you are not familiar with Vanguard you may wish to check them out. They have some of the lowest expense ratios among index funds.
Twitter is in the S&P 500 index. Vanguard acquires TWT shares in a machine like manner to maintain its S&P 500 index fund weighting along with other index funds that include TWT.
The fact that Vanguard accumulates TWT shares is probably not some deep state conspiracy.
Would be interesting to see the correspondence between the
board and the second 2-10 positions prior to Vanguard group’s
purchase.
Desperation time.
Would love to see Elon make it a 51% stake.
These Leftards need to be fed some humble pie.
“So what is Vanguard’s connection to the deep state?”
I see you are among the 90% the media counts on not reading past the headline!
We should all buy shares. We can use them to support free speech on Twitter, and they won’t notice individuals buying stock. They noticed Musk.
Yes.
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