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Twitter stocks went up after Elon musk buys it but what about Tesla and Snapchat’s stocks?

Twitter Inc.’s stock surged 6% to $52 per share on Monday. Musk made a bid to buy the social networking platform for $54.20 per share on April 14, 2022. While the price has risen significantly since Musk’s offer, it remains much below its February 2021 high of $77 per share.

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Twitter stocks went up after Elon musk buys it but what about Tesla and Snapchat's stocks?

As we all know Billionaire entrepreneur Elon Musk owns SpaceX and Tesla, but now he is looking forward to buy Twitter also. The 16-year-old social media platform (Twitter) will become a history in the world, once Elon will buy Twitter.

The contract, according to Twitter, is likely to conclude this year and is subject to approval from Twitter investors and authorities.

Twitter Share Price

Twitter Inc.’s stock surged 6% to $52 per share on Monday. Musk made a bid to buy the social networking platform for $54.20 per share on April 14, 2022. While the price has risen significantly since Musk’s offer, it remains much below its February 2021 high of $77 per share.

Snapchat Share Price

Since September 2021, Snapchat’s stock has dropped by more than 56%. SNAP is undeniably overpriced when measured by standard criteria. However, owing to its strong long-term potential, it is still expected to be profitable.

Snapchat reported $4.1 billion in sales, despite its enormous market capitalization of almost $56 billion. Nevertheless, its increasing growth rates are possible due to its high revenue growth rate of 42 percent and fast-growing revenue per user (ARPU).

Furthermore, Snapchat’s 319 million daily active users offer a lot of opportunity for development, and with an ARPU of just $4.06, its income is expected to rise as well.

Read Also: Elon Musk buys Twitter: Is it time to get out of it?

When compared to other social media stocks, SNAP performs very well in a bullish market. However, due to the present status of the market, it has been fairly volatile. As a result, investors should buy large shares of Snapchat after there are obvious indicators of a prolonged bull market. Buying Snapchat today, though, may be reasonably rewarding in the long run.

Elon Musk Companies and Stocks

According to Forbes, Mr. Musk is the world’s wealthiest entrepreneur, with a worth of about $279 billion. However, much of his wealth is invested in Tesla shares. He is owning approximately 17 percent of the electric car firm, which is worth more than $1 trillion, according to the reports.

Elon Musk First Company

Zip2 was the first company of Elon Musk. Elon Musk may be the only person on the planet whose worst failure has resulted in his becoming a millionaire. When Zip2, the serial entrepreneur’s first firm, sold for $307 million in 1999, Musk received $22 million for his 7percent share in the company, despite the fact that he was just 27 years old at the time. Later on, he owns Tesla, and also SpaceX, his private space venture. Therefore, it is unknown how much money Musk possesses.

In other news, following Elon Musk’s $44 billion purchase of Twitter, many are wondering if former US President Donald Trump’s and Bollywood actress Kangana Ranaut’s accounts will be reactivated.

Elon Musk buys Twitter: Will former US President Donald Trump and Bollywood actor Kangana Ranaut’s account be restored after Musk hails free speech?

Elon Musk to take full control of Twitter as they reach an agreement, Musk says his critics should remain here for free speech

Latest business news

Mukesh Ambani resigns as director of Reliance Jio, son Akash Ambani appointed chairman

Business tycoon Mukesh Ambani on Tuesday resigned as the director of Reliance Jio.

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mukesh ambani

Business tycoon Mukesh Ambani on Tuesday resigned as the director of Reliance Jio. The company appointed the non-executive director and Mukesh’s son Akash Ambani as the chairman of Reliance Jio Infocomm Ltd.

The decision was taken today in a board meeting which also appointed Pankaj Mohan Pawar as Managing Director of the Reliance Jio for five years which will be effective from June 27, 2022.

The Board of Directors had a meeting held on 27 June, 2022 where the following points were discussed:

·  The BoD accepted the resignation of former director Mukesh D Ambani as the Director of the Company.

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·  The Board of Directors have approved the appointment of Akash Mukesh Ambani, the former Non-executive Director as the new Chairman of BoD of the Company.

·  They have appointed KV Chowdary and Raminder Singh Gujral as the Additional Directors of the Company. Both have been designated as Independent Directors for a period of 5 years commencing from 27 June, 2022.

·  The BoD have also appointed Pankaj Mohan Pawar as the new Managing Director of the Company for a period of five years commencing from 27 June, 2022.

The company made an official declaration during the regulatory filing. Established in 2019 the Jio Platforms is totally owned by the RIL, which is also an Indian technology company. According to reports, the shares of Reliance Industries closed at 2,529.00 which is 1.49% higher than yesterday’s close.

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Pallonji Mistry passes away at 93: Know how richest person of Ireland is related to Ratan Tata

The 93-year-old Indian-Irish business tycoon, Pallonji Mistry, head of the Shapoorji Pallonji Group, passed away on Monday night in Mumbai.

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Pallonji Mistry passes away
Pallonji Mistry was the richest person in Ireland and the chairman of Shapoorji Pallonji Group.

The 93-year-old Indian-Irish business tycoon, Pallonji Mistry, head of the Shapoorji Pallonji Group, passed away late on Monday night at his home in Mumbai. Popularly known as the Phantom of Bombay House, he died in mid-sleep on an intervening night on Monday and Tuesday. He is survived by his wife and four children, two daughters and two sons.

Pallonji Mistry was the richest person in Ireland and the chairman of the Shapoorji Pallonji Group. According to the Bloomberg Billionaires Index, his wealth is estimated to be US $28.0 billion as of April 9, 2021.

The third-highest civilian award in India, the Padma Bhushan, was given to Pallonji in 2016 for his contributions to real estate, textiles, power, shipping, publishing, and other industries.

How Pallonji Mistry was related to Ratan Tata?

Mistry’s father, Shapoorji Pallonji, invested in Tata Sons for the first time in the 1930s, and today, with a stake of 18.4%, he is the company’s largest individual shareholder. Tata Sons is principally owned by the charitable Tata Trusts.

Cyrus Mistry, his younger son, served as the Tata Sons’ chairman from 2012 to 2016. He was fired over a dispute that turned into one of the most fiercely disputed corporate battles in India in recent times.

The Mistry Group, however, intended to sell their shares in September 2020, after Cyrus was ousted. When Cyrus was removed as the chairman of the Tata Group in 2016, the conflict between the SP Group and the Tata Group escalated into one of the biggest corporate showdowns in India’s history.

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Shapoorji Pallonji Group

The SP Group, which was established in 1865, is responsible for the construction of several famous structures in Mumbai, such as the Reserve Bank of India and the Taj Mahal Palace hotel complex.

The business tycoon assisted in the expansion of the SP Group into the Middle Eastern nations in 1970, notably Abu Dhabi, Qatar, and Dubai. The Sultan of Oman’s palace was the first foreign project the company won in 1971, which was completed in 1976.

Following this, the business constructed numerous ministerial structures in the region. Under his leadership, the business expanded into a conglomerate that included services for real estate, water, energy, construction, and finance.

The organization offers end-to-end solutions in 50 countries with a team of over 50,000 people.

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RBI increases repo rate by 50 bps to 4.90 per cent, know what impact it will have on your home loan EMIs

RBI governor Shaktikanta Das announced an increase in the repo rate by 50 basis points and this is likely to have direct impact on the pocket of EMI holders.

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Shaktikanta Das

In the Reserve Bank of India’s conclusion meeting of Monetary Policy, the RBI governor Shaktikanta Das announced an increase in the repo rate by 50 basis points. This increase is happening for the second time in five weeks. With this, now the RBI has increased the repo rate to 4.90 per cent.

As the repo rate has increased, will it have a direct impact on people who have EMIs? Yes, as the repo rate hike will make EMIs costlier. The increase in repo rate has a direct impact on interest rates on house loans, car loans, and personal loans.

What impact does the increase in repo rate have on EMI holders?

When the RBI’s policy rate increases due to this there is a higher cost of funds for banks. And, because of this, banks also raise interest rates and that directly impacts the pocket of the EMI holder and the monthly instalment also gets costlier because of this.

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The RBI has been increasing the repo rate to tackle inflationary pressure. RBI governor Das also said that India’s recovery has also gained momentum and the withdrawal of accommodation started during the pandemic.

He also said that inflation has steeply increased much beyond the tolerance level. The process of recovery in emerging market economies is also getting affected. But the Indian economy has remained resilient. Das further said that they have started a gradual withdrawal of the extraordinary accommodation. RBI will continue to be proactive and decisive in mitigating the fallout of the geopolitical crises on our economy. Their steps will be measured and calibrated.

Das said that the RBI will remain focused on bringing down inflation with the target. He also talked about the geopolitical situation and said that the ongoing war has turned out to be a dampener on global trade and growth. Domestic economic activity is gaining traction while inflation pressures have intensified faster. Inflationary pressures have become broad-based and remain largely driven by supply shocks.

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