Momentum Monday – A Breath Of Life in Web 2.0 As Musk Invests in Twitter


This post is by Howard Lindzon from Howard Lindzon


As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

Good morning everyone.

I woke up this morning to news that Elon Musk bought/invested $3 billion for a near 10 percent stake in Twitter.

He is already up over $600 million on the trade/investment as Twitter’s stock is up over 20 percent this morning.

I think the board should make Elon the CEO immediately as his part time would be more effective than Jack’s part time (as long as he does not grow a beard and keeps his fingernails short and clean)

While the nuts on the right say this is all about owning Musk owning the libs, keep an eye on the immediate destruction of Trumpf’s SPAC $DWAC (Truth Social) which is quickly down 13 percent this morning.

Elon has used a small bit of his fortune to create his own digital universe complete with centralized communications platform and digital currency. I imagine what’s next is a competitor to the $GOOG and $AAPL mobile operating system oligopoly. Web 3.0 is going to be wild.

Onwards…

Nothing Musk did this morning puts a dent in the issues that have been driving the rest of the market…inflation and rising rates and war worries.

As (Read more...)