NEW YORK (Reuters) – Activist hedge fund Elliott Management has built a stake in Twitter inc (TWTR.N) and is pushing for changes, a person familiar with the matter said on Friday.
Founded by billionaire Paul Singer, New York-based Elliott is one of the world’s biggest activist investors and pushes for changes at prominent corporations to improve operations and ultimately the share price.
In after-hours trading, the share price of the microblogging and social network service jumped 7.7% to $33.20.
CNBC reported that Elliott is seeking to push out Twitter CEO Jack Dorsey, who is also the CEO of Square (SQ.N). Dorsey is the only person who is the CEO of two publicly traded companies.
Calls to Elliott and Twitter for comment were not immediately returned.
See author's posts
Ford to produce 50,000 ventilators in 100 days with GE
Judge stops Texas from curbing abortions during COVID-19 crisis
New York governor begs for help as coronavirus death toll climbs
Austria to make basic face masks compulsory in supermarkets
2014 Powered By Wordpress, Goodnews Theme By Momizat Team