Elon Musk Still Wants To Own Twitter

JC Parets
June 16, 2022

The big activist news of the day is that Elon Musk is reportedly still at work on his Twitter deal.

The eccentric billionaire is expected to confirm his desire to own the social media company in a town hall meeting with employees today.

Yesterday, MM Asset Management Holding (Massachusetts Mutual Life Insurance) revealed a purchase of roughly $26.7 million in Invesco $IVZ.

This is also a large activist holding by one of our favorite investors, Nelson Peltz of Trian Fund.

MassMutual now owns more than 81.3 million shares, for a total ownership interest of 17.6%.

James A. Star, independent director at Chewy $CHWY, reported an additional purchase of almost $5 million, as he continues to build his position in the online pet retailer.

The only 13G on our list was filed by Magnolia Capital Fund, revealing an ownership stake of 10.20% in the real estate agency RE/MAX Holdings $RMAX.

Here’s The Hot List, with data through June 15, 2022:

Both the CEO and a director of Maximus $MMS disclosed purchases totaling roughly $1.5 million of their own stock.

Edward Shapiro, independent director of United Airlines $UAL, reported an additional purchase of 50,000 shares, equivalent to $1,884,465 worth of stock.

Over in the options market, there was bullish flow in Tellurian $TELL, Las Vegas Sands Corp $LVS, and the oil and gas company Antero Resources $AR.

Stay tuned. We'll be back Friday with more insider action.

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All Star Charts Team

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