Short-seller Hindenburg Research said on Wednesday it had taken a long position in Twitter Inc. shares, sending the stock up about 8 percent, a day after the social media firm sued Elon Musk for backing out of his $44 billion deal.
On Tuesday, Twitter sued Musk for violating his $44 billion deal and asked a Delaware court to order him to complete the merger at the agreed $54.20 per Twitter share.
Musk, chief executive officer at Tesla Inc and SpaceX head, backed out of the deal on Friday, saying Twitter had violated the agreement by failing to respond to requests for information regarding fake or spam accounts on the platform….