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Musk’s Twitter (NYSE:TWTR) U-Turn Brings Gain for Carl Icahn
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Musk’s Twitter (NYSE:TWTR) U-Turn Brings Gain for Carl Icahn

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Elon Musk is moving ahead with the Twitter deal at the initial offer price of $54.20 per share. Musk’s u-turn brings profits for investors, including Carl Icahn.

Elon Musk’s surprise u-turn to move ahead with the Twitter (NYSE:TWTR) deal brings in millions for investors, including Carl Icahn, the Wall Street Journal reported. 

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Per the report, Icahn invested over $500 million in TWTR stock. Given the spike in Twitter stock (it closed about 22% higher on Tuesday), Icahn and other investors are sitting on considerable profits. 

TipRanks’ data shows that Carl Icahn ranked #225 out of 462 hedge fund managers on TipRanks. Icahn’s portfolio has gained 59.86% since June 2013. The S&P 500 Index (SPX) appreciated nearly 220% during the same period.

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