Mark Cuban Sends Twitter Stock Aflutter With Investment

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By Daniel J. Solomon May 3, 2017

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

Daniel J. Solomon is the former Assistant to the Editor/News Writer at the Forward. Originally from Queens, he attended Harvard as an undergraduate, where he wrote his senior thesis on French-Jewish intellectual history. He is excited to have returned to New York after his time in Massachusetts. Daniel’s passions include folk music, cycling, and pointed argument.