20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
After the takeover of Twitter by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk, the platform's founder Jack Dorsey has retained his indirect stake in the company, while FTX CEO Sam Bankman-Fried is reportedly considering a sale of his shareholdings.
What Happened: Filings made with the U.S. Securities and Exchange Commission on Monday indicate that Dorsey is set to retain an indirect equity interest in Twitter.
Bankman-Fried, who owns about $50 million to $100 million stake in Twitter may cash up to $100 million of his stake, reported The Block, citing people familiar with the matter.
FTX and Twitter did not immediately respond to Benzinga's request for comment on the development.
See Also: Best Cheap Tech Stocks Under $5
Why It Matters: Musk purchased Twitter for $44 million, which implies Bankman-Fried's stake amounted to nearly 0.1% to 0.2%, noted The Block.
It was reported earlier that Bankman-Fried was interested in funding the Twitter purchase by Musk and had the intention of contributing $1 billion to $5 billion.
Musk asked an intermediary whether Bankman-Fried had "huge amounts of money," according to the Block.
FTX rival Binance wired $500 million towards the Twitter purchase with the company's CEO Changpeng Zhao saying "we are small potatoes."
Read Next: It's Official: Elon Musk Is Twitter's New CEO
Photos by Shutterstock and Cointelegraph on Wikimedia
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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