Why Twitter Shares Are Rising Amid Tesla CEO Elon Musk Stepping Away From Deal

Twitter Inc TWTR shares are trading higher by 8.07% to $36.81 Wednesday afternoon after Hindenburg Research said it has accumulated a significant long position in the stock. The stock may also be continuing to rebound after Tesla Inc TSLA CEO Elon Musk stepped away from his deal, which caused a dip in the stock.

Hindenburg Wednesday tweeted: "We have accumulated a significant long position in shares of Twitter. Twitter’s complaint poses a credible threat to Musk’s empire."

Meanwhile, Twitter has a “strong iron fist upper hand” in the legal fight set to play out in a Delaware court after Tesla  CEO Elon Musk said he was terminating a deal to purchase the social media platform, according to Wedbush analyst Dan Ives... Read More

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According to data from Benzinga Pro, Twitter has a 52-week high of $73.34 and a 52-week low of $31.30.