Top tech analyst Dan Ives said Monday morning that Tesla CEO Elon Musk’s big share-buy of Twitter Inc. is “just the appetizer” of what’s to come from Musk taking on the social media platform.
Twitter shares surged on Monday after a regulator filing was released and showed the entrepreneur became the platform’s largest shareholder, taking 9.2% stake in Twitter Inc.
“Musk could try to take a more aggressive stance here, on Twitter,” Ives told CNBC’s Squawk Box. “This eventually could lead to some sort of buyout.”
“It’s no surprise that he wanted to do something on social media, and this is really him not just talking to the talk, but walking the walk,” the analysts added, referring to recent noise Musk has made about Twitter’s anti-free speech position.
“This is just a starter … Musk is not gonna do this just to take a passive stake,” Ives asserted. “He’s gonna ultimately try to either really change Twitter in terms of a more active stake or eventually, could lead to a buyout.”
Wedbush’s Dan Ives: “This is just a starter, @ElonMusk is not gonna do this just to take a passive stake. He’s gonna ultimately try to either really change Twitter in terms of a more active stake or eventually it could lead to a buyout,” 🐦 $TSLA $TWTR pic.twitter.com/RUNenfjkuY
— Tesla New York (@TeslaNY) April 4, 2022
“This morning Elon Musk revealed he now owns a 9.2% passive stake in Twitter,” Ives also tweeted. “We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake; more aggressive ownership role of Twitter.”
This morning Elon Musk revealed he now owns a 9.2% passive stake in Twitter. We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake; more aggressive ownership role of Twitter
— Dan Ives (@DivesTech) April 4, 2022
To Yahoo Finance, the analyst said this latest move from the Tesla CEO is “just the appetizer” of what’s to come, adding that Musk is “likely to increase it and have more a voice.”
— Julie Hyman (@juleshyman) April 4, 2022
Musk teased a shakeup at Twitter, or possible plans to build a new social media platform that promotes free speech, last month.
For example, he asked his followers to vote in a poll about free speech and Twitter’s adherence to it, emphasizing that the “consequences of this poll will be important.”
“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” the 50-year-old asked. “The consequences of this poll will be important. Please vote carefully.”
The consequences of this poll will be important. Please vote carefully.
— Elon Musk (@elonmusk) March 25, 2022
When the poll came back to show that more than 70% of the 2,000,000-plus who voted answered “No,” Musk teased creating a new platform of his own.
“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” he asked, following up, “Is a new platform needed?”
Is a new platform needed?
— Elon Musk (@elonmusk) March 26, 2022
The next day, the entrepreneur said he was giving “serious thought” to building a new platform with “an open source algorithm,” promoting free speech.
“Would you consider building a new social media platform, [Elon Musk]?” one Twitter user asked. “One that would consist an open source algorithm, one where free speech and adhering to free speech is given top priority, one where propaganda is very minimal. I think that kind of a platform is needed.”
“Am giving serious thought to this,” Musk responded.
Am giving serious thought to this
— Elon Musk (@elonmusk) March 27, 2022
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