Elon Musk Just Bought a Big Stake in Twitter Stock

Tesla CEO Elon Musk has taken a major interest in Twitter less than two weeks after criticizing the social media platform

Twitter stock was up nearly 25% Monday after Musk purchased 9.2% of the social-media company’s stock

Tesla stock was up 3.4%. The S&P 500 rose 0.3% , while the Dow Jones Industrial Average was down 0.1%.

The performance of the two stocks couldn’t be more different over the past year.

Twitter, on the other hand, has dropped 39% as high-priced tech stocks were punished, largely for reasons outside their control.

Twitter’s 12-month forward price/earnings ratio has fallen to 43.9 from 66.9 five months ago.

Musk is now the largest outside shareholder with 73,486,938 shares, according to a Securities and Exchange Commission.

The Tesla chief is a very active Twitter user with a committed fan base.