Short seller Hindenburg Research on Wednesday said it had taken a long position in Twitter shares, sending the social media firm’s stock surging 6% in early trading.
“We have accumulated a significant long position in shares of Twitter. Twitter’s complaint poses a credible threat to Musk’s empire,” Hindenburg said.
On Tuesday, Twitter sued Elon Musk for violating his $44 billion deal to buy the social media platform and asked a Delaware court to order the world’s richest person to complete the merger at the agreed $54.20 per Twitter share.
With Post wires
[Written in collaboration with other media outlets with information from the following sources]
