Elon Musk's appointment to the Twitter board leads to a rise in share prices.

• Twitter experienced its best day of trading since its IPO in 2013, with shares increasing by more than 27% on Monday.
• In recent weeks, conversations with Elon revealed that he would greatly benefit our Board, according to Twitter CEO Parag Agrawal, who shared this information on Twitter.
• Musk stated that he was excited to collaborate with Agrawal and the Twitter board to bring about substantial enhancements to the platform.

On Tuesday, Tesla's stock price decreased by approximately 2% after Elon Musk was named to the company's board of directors.

The release filed with the SEC revealed that Musk has a 9.2% passive stake in the company, making him the largest shareholder, worth almost $3 billion.

Twitter's stock price increased by 7.32% to $53.63 at 9:02 a.m. ET on Tuesday, following a 27% surge on Monday, which was the company's best trading day since its IPO in 2013.

In recent weeks, conversations with Elon revealed that he would greatly benefit our Board, according to Twitter CEO Parag Agrawal in a tweet.

He is both a fervent supporter and a harsh critic of the service, which is precisely what we require on Twitter and in the boardroom to strengthen our organization in the long run.

Musk stated that he was excited to collaborate with Agrawal and the Twitter board to bring about substantial enhancements to the platform.

On Monday, Musk proposed adding an edit button to the platform.

"Would you like an edit button?" Musk inquired in a poll. Currently, the poll has garnered 2,333,856 votes, with 73.6% voting "yes" and 26.4% voting "no."

Agrawal urged people to "vote carefully" as the consequences "will be important," after retweeting Musk.

On April 1, Twitter's official account posted a message stating that they were working on an "edit" button. When asked if it was a joke, the company responded, "We cannot confirm or deny, but we may edit our statement later."

If Twitter users had an edit button, they could potentially change the meaning of a tweet that had already gained popularity, which could cause issues if the original tweet had a significant impact.

Andrew Bosworth, Meta CTO, stated that the issue on Facebook was resolved by his team "a long time ago" through the inclusion of an edit indicator and a change log.

The CEO of Twitter has appointed Elon Musk to its board, following his statement that he was considering creating a new social media platform. However, Musk has expressed dissatisfaction with the scrutiny of his tweets by regulatory bodies such as the U.S. Securities and Exchange Commission.

"Since Twitter functions as the de facto public forum, not upholding free speech principles fundamentally weakens democracy. What action should be taken?"

In November, the SEC subpoenaed Musk after he requested his Twitter followers' opinion on whether he should sell 10% of his Tesla stock, resulting in a decline in share prices.

Macro Hive CEO Bilal Hafeez stated on CNBC's "Street Signs Europe" that Elon Musk has been dissatisfied with Twitter for some time, particularly with their approach to free speech and product development.

"Elon's involvement in the direction of Twitter is evident, but the question remains about his level of activity in shaping the company's future."

Hafeez stated that Musk may attempt to appoint an outsider to manage Twitter. Prior to assuming his current CEO position, Agrawal had served as CTO.

"Twitter's revenue growth model is a fundamental issue, as it has set ambitious targets for daily active users but is unlikely to achieve them. Although its revenue growth increased during the pandemic, it was not as significant as other platforms over the same period."