Analysis: Musk’s Twitter Bet Gins up Meme Stock Hype

Analysis: Musk’s Twitter Bet Gins up Meme Stock Hype
SpaceX owner and Tesla CEO Elon Musk at the E3 gaming convention in Los Angeles, Calif., on June 13, 2019. Mike Blake/Reuters
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NEW YORK—Kyle Ash snapped up $2,615 worth of Twitter Inc shares as soon as he heard that Elon Musk had become the social media company’s largest shareholder.

The 25-year-old retail worker from Reading, Britain bought into Twitter on Monday after shares surged 27% on news of Musk’s investment in the San Francisco-based company.