Top 5 Gainers on Wednesday

2. Twitter, Inc. (NYSE:TWTR)

Number of Hedge Fund Holders: 68

Shares of Twitter, Inc. (NYSE:TWTR) rose to a nearly three-month high today. The upward movement came after Elon Musk sold nearly $7 billion worth of shares in Tesla.

Many believe Musk is accumulating cash in case Twitter, Inc. (NYSE:TWTR) forces him to proceed with his earlier proposal of buying the microblogging site for $44 billion. Musk initially disclosed his plans of buying the company in April.

However, he later backed out of the agreement, saying he hasn’t received sufficient data about the fake accounts from Twitter. Subsequently, Twitter, Inc. (NYSE:TWTR) sued Tesla’s CEO for terminating the deal. The two parties will soon face each other in a court trial.