After disclosing a passive stake in Twitter, Inc. on Monday, Tesla, Inc. CEO Elon Musk showed that he means business. The social media platform said in a filing on Tuesday that Musk will join the company’s board with a term expiring 2024. The Tesla Analyst Wedbush analyst Daniel Ives has an Outperform rating and $1,400 price target for Tesla shares. The Tesla Thesis Accommodating Musk is a friendly move by the company’s board, as it embraces the Tesla CEO with open arms, analyst Ives said in a note. The passive stake is clearly just the start of Musk’s involvement in Twitter, he added. Drafting Musk into Twitter’s board will lead to a host of “strategic initiatives,” the analyst said. These, according to the analyst, could range from near-term to long-term possibilities as Twitter is still struggling in a social media arms race. “The Street will clearly like this news as …
As Elon Musk Joins Twitter Board, Analyst Sees ‘Strategic Initiatives’ Ahead; This Is ‘Just Start of Musk’s Involvement’
April 6, 2022
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