The artist flies through the Internet - he gets a ton of Flickr views, shows up on Wooster Collective, and floods Facebook newsfeeds. They get inexplicably ramped up about artists who have produced one provocative wheatpaste or had a single clever idea. They exuberantly consume the latest street artworks like hungry piranhas, hyping the artist and his products until there’s nothing left but an embarrassing skeleton. Reliance spin-off Jio Financial's share price set at Rs 261.Street art enthusiasts seem to have a thing for destructive fanaticism, but I’m not sure they realize how destructive it can be.Error free tax return, refund, e-verification: Important to-dos for ITR e-filing for AY 2023-24 - watch video.Adani to sell fin services biz to US investment firm Bain Capital.IRCTC website down due to technical glitch.AIX Connect to fly as 'Air India Express'."The goal is to better monetize the platform, and we think Musk can only help, not hurt the process, with his recent criticism of the company as a refreshing sign," Zino wrote. Musk's long-term contribution to Twitter will hinge on whether he can help make the company more profitable, CFRA Research analyst Angelo Zino wrote in a note this week. Some analysts cautioned the boost in Twitter's stock based on hype may not be enough to keep retail investors engaged. An investment by GameStop Chairman Ryan Cohen in retailer Bed Bath & Beyond last month led to a doubling in that company's market value. Retail investors followed, and Hycroft shares are now trading at seven times what they were worth a month ago. read more Last month, AMC unveiled a $27.9 million investment in Hycroft Mining Holding Corp, a troubled gold and silver mine operator. Gamestop, AMC Playbook In investing in Twitter, Musk is borrowing a page from the playbook of AMC and GameStop, whose leaders have also capitalized on their popularity with retail investors to place bets on other companies. He cautioned that the hype could also attract investors who like to short stocks. "Given Musk's following on social and other media, we expect the news to drive significant retail investor interest in, and activity for, the stock," Bank of America Securities analyst Justin Post said in a research note this week. While that is higher than Tesla, where retail investors account for 1.5%, it is significantly lower than AMC, the most popular meme stock, where retail investors account for 40.9% of the investor base. Retail investors account for 9.9% of Twitter's investor base, according to Vanda. The stock sank 38% in the 12 months to April 1, before Musk unveiled his stake, versus a 13% rise in the S&P 500 Index. Twitter shares have fallen behind peers amid the company's push to make its advertising more lucrative and generate more revenue from subscription products. Musk and Twitter did not respond to requests for comment. Musk's popularity with retail investors was one of the reasons why Twitter agreed this week to offer him a seat on its board of directors, people familiar with the matter said. Musk, who is also behind other ventures such as rocket maker SpaceX, is the world's richest person with a net worth pegged by Forbes at $290 billion. Tesla is now among the world's most valuable companies with a market capitalization of more than $1 trillion. Musk has developed a loyal following of investors who stuck with his company Tesla for most of the past decade while it was still struggling to streamline production of electric cars and make them affordable. The $152 million inflow to the stock on Monday was the largest among all stocks and ETFs on US exchanges for the day. Millions of investors flocked to Twitter's stock after Musk, who has more than 80 million Twitter followers, disclosed a 9.2% stake in the company, making it the most bought US stock by retail investors on Monday, data from Vanda Research shows.
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