Diamonds and Dogs
Twitter (TWTR) jumps on Elon Musk stake. Twitter is up 25%, biggest jump in six years, as an SEC filing disclosed Elon Musk bought 73.5 million shares or a 9.2% stake in Twitter worth $3.5 billion. No comment on what Musk will do with his investment, but he typically is not a passive investor.
Starbucks (SBUX) lower by 4% after halting their share buyback. Former CEO, Howard Schultz is back and is wasting no time cutting costs. In October, Starbucks said it would spend $20 billion on dividends and buybacks over three years, but growing unionization efforts at stores across the U.S. and a resurgent of Covid-19 virus in key growth markets like China has Starbucks being more cautious with their money.
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