Elon Musk Attempts a Social Media Coup

In my Buy or Bye? series, I take a popular stock, strip away all the hype and let you know whether you should buy now, buy later or buy never.

Today’s video follows the saga of one social network company that may be in the midst of a hostile takeover.

This company’s political influence has far surpassed that of any other media platform. And as of late, it’s making headlines after one eccentric entrepreneur accused it of silencing users.

As a user of the company’s social media app, Elon Musk asked his more than 80 million followers if the platform “rigorously adheres” to the principle of free speech.

After an astounding 70% of the 2 million total respondents said it did not follow that principle, Musk bought a nearly 10% stake in the social media giant.

An attempt – it seems – to acquire some amount of control over company policy.

Check out what Fox Business has to say…

After Musk’s investment, the company’s share price jumped more than 25%.

However, some analysts are skeptical that this recent surge is anything more than an overreaction. After all, the company’s user growth remains stagnant, its stock price quickly fell back to $40 and its controversies have caused a great deal of stress for shareholders.

This headline from Yahoo Finance reflects this sentiment…

And with Musk making rounds in the news circuit this morning – with his $43 billion bid to buy out the company – all eyes are on this stock.

Could involvement from an entrepreneur like Musk guide the stock to new heights? Or is it destined to become just another meme stock of little value?

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