Tesla (TSLA) stock ticked higher on Friday after Elon Musk announced he had hired a new CEO for Twitter without naming the person.
“Excited to announce that I’ve hired a new CEO for X/Twitter,” Musk, the current CEO of Twitter, said in a tweet. “She will be starting in ~6 weeks!”
Musk’s role will “transition to being exec chair & CTO, overseeing product, software & sysops,” he wrote.
The tweet sent Tesla stock 2% higher just before the market closed on Thursday. Shares of Tesla popped more than 2% on Friday morning too, despite a wide-ranging recall in China due to a braking and acceleration defect.
Musk first made his bid for Twitter on April 14, 2022. Tesla shares closed the day at $333. Since then, the stock has lost nearly half of its value as Musk has sold off shares to pay for his new social media platform. The official $44 billion purchase closed in October, and Wall Street has been hyperfocused on the “Twitter overhang” weighing down Tesla’s stock since.
“Musk’s…
This article was written by and originally published on finance.yahoo.com