Twitter stock jumps after Elon Musk takes 9 percent stake

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Tesla CEO Elon Musk has acquired a 9.2 percent stake in the social network Twitter.

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The ultimate goal of purchasing 73.5 million Musk shares is worth $ 2.9 billion

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Musk is now the largest outside shareholder with 73,486,938 shares

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His purchase of a stake in Twitter comes at a time when Musk is embroiled

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in a heated dispute with US securities regulators over his ability to contribute to Twitter.

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The agreement to acquire a stake in Twitter comes months after a long time

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when CEO Jack Dorsey left the company.

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Parag Agrawal replaced Dorsey in November

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