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- Cathie Woods speaks her mind on Elon Musk’s Twitter acquisition.
- The deal may close by 28 October 2022 according to the latest updates.
- Tesla remains the largest holding for Ark Invest.
Free Speech Will Not Affect Twitter
Elon Musk’s Twitter (TWTR) acquisition news is gaining a lot of attention around the globe. The richest man alive on the earth acquired a 9.2 % stake of the social media platform in April 2022. But this was not enough to satisfy his hunger. So he decided to take over the social media giant instead. Many are wondering how the Tesla CEO will transform the platform. Ark Invest’s Cathie Woods remains one of those people.
This is exciting for Ark Invest CEO as Tesla is the largest holdings in their company’s portfolio. She said in an interview that Twitter is a prolific platform and is excited about its future. Cathie is eager to know how Elon is planning to transform the social media giant. She also believes that he might work closely with Jack Dorsey, Twitter co-founder.
Elon Musk said that he will implement free speech on the platform. But several people opposed it as it can prove perilous to the company. But Cathie Woods thinks differently, she thinks that there’s no harm in implementing free speech on Twitter. People can easily remove the accounts they do not want to follow, it is up to them and them only.
Elon Musk became skeptical after announcing that he is taking over the social media platform for $44 Billion. The Twitter Board said following his skepticism that he has to pay charges in $1 Billion if Tesla CEO fails to keep the word. But recent court drama has changed the circumstances and he may finalize the deal by October 2022’s end. He went sarcastic on Twitter and posted “buy my perfume so I can buy Twitter.”
EV Stocks Will Rise
The rise of Electric Vehicles (EV) industries may be a reason why Cathie Woods believes in Tesla. She thinks that conventional gas-powered automobiles will become obsolete in the upcoming years. According to a report, the EV sector generated 246 Billion USD in revenue and will become a 1,318 Billion USD industry by 2028 at the Compound Annual Growth Rate of 24.3%.
Does this point towards the fall of the traditional vehicle industry? Currently, we are on the verge of facing the extreme climate across the globe. Extreme heat in Canada led to over 619 deaths in 2021. This is just an instance of how global warming holds the potential to create a dystopian earth.
DuPont poisoned the world during its reign with Teflon, organizations across the world are doing whatever they can to avoid becoming the Devil like them. EV companies will flourish in this arena as traditional automobiles remain one of the core reasons for air pollution globally.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
