Mark Cuban Sends Twitter Stock Aflutter With Investment
Image by getty images
Mark Cuban, the outspoken billionaire owner of the Dallas Mavericks, helped power Twitter to large gains in stock price Tuesday, after an announcement that he would be purchasing a hefty number of shares in the social media company.
When the stock market closed Tuesday, the price of Twitter stock had gone up 4% to $18.24, a big jump for the company that has never made a profit.
“My biggest holdings are Amazon, which I think is the leader in the space, and Netflix for video, and I started buying Twitter recently because I think they finally got their act together on artificial intelligence,” Cuban said on CNBC’s Squawk Alley.
Twitter has seen a week full of good news that has pushed up its stock price. On Monday, shares for the company increased 7% in price after it was revealed that CEO Jack Dorsey and ex-New York mayor Michael Bloomberg would partner to create a 24/7 news channel.
Contact Daniel J. Solomon at [email protected] or on Twitter @DanielJSolomon
Why I became the Forward’s Editor-in-Chief
You are surely a friend of the Forward if you’re reading this. And so it’s with excitement and awe — of all that the Forward is, was, and will be — that I introduce myself to you as the Forward’s newest editor-in-chief.
And what a time to step into the leadership of this storied Jewish institution! For 129 years, the Forward has shaped and told the American Jewish story. I’m stepping in at an intense time for Jews the world over. We urgently need the Forward’s courageous, unflinching journalism — not only as a source of reliable information, but to provide inspiration, healing and hope.
Support our mission to tell the Jewish story fully and fairly.
