Twitter has been going through many changes after Elon Musk took ownership of the platform. However, among the most noticeable changes is that Twitter stock seems to be no longer available and not showing up on Robinhood. A lot of people are left confused over this change.
Reports of Twitter stock not showing up on Robinhood
Robinhood Markets Inc. is a service that allows you to buy and sell equity from a variety of firms. Twitter was one of the corporations with stocks offered for trade on the platform.
Several users, however, have reported that Twitter stocks and shares are no longer active on Robinhood. The change occurred following the execution of Elon Musk’s takeover of Twitter.
A user reported on Twitter: “Looks like Twitter stock is the next GameStop stock. They have removed the ability to buy Twitter shares at least Fidelity Investments… Can anyone confirm @Robinhood? #EatTheRich @Fidelity #Twitterstock.”
Explanation of the change and other Twitter modifications
If you’re curious why this is happening, it may be because Twitter has become completely private. Thus, it means that Twitter stocks or shares are not offered on stock exchanges or brokers such as Robinhood.
“He took the company private. He owns it all and so it doesn’t trade any more,” one person wrote.
This has an immediate effect on individuals who already purchased Twitter shares. Shareholders would not lose any money and will instead get USD 54.20 per share of stock.
Among the most significant changes will affect Twitter Blue, the company’s membership service. It will be redesigned to include advanced functionality and will be priced at $8 per month.
The specific aspects of the new Twitter Blue have yet to be determined. Elon Musk, on the other hand, has previously announced that the monthly membership will come with a ‘blue tick or check’ for profile authentication.
Musk also intends to reorganize the company’s employees entirely. According to reports, Twitter’s current boss has discovered wasteful practices and plans to get rid of them.