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Elon Musk will leave his post as Twitter CEO

Published

3 years ago

on

Elon Musk has officially vowed to step down as Twitter’s CEO, after millions cast their votes in an online poll

The world’s second-richest man has announced his resignation as the chief executive officer at Twitter.

Elon Musk left his fate to users on the social media platform in which 10 million voted for his resignation.

Over 17.6 million users responded to the poll, which asked whether he should quit as the head of Twitter—a role he has held for two months.

Once the results were in, Musk said he will step down once he finds “someone foolish enough” to take on the position.

“After that, I will just run the software and servers teams,” he said.

The multi-billionaire bought the company for $US44 billion. However, he has made several controversial decisions since he took over, including laying off half of Twitter’s existing staff; and policies around hate speech.

Dan Ives is the managing director at Wedbush Securities, who said the poll ends a nightmare situation on the platform.

“From the botched verification subscription plan to banning journalists to political firestorms caused on a daily basis, it’s been the perfect storm as advertisers have run for the hills and left Twitter squarely in the red.”

Musk’s Twitter takeover also led to sharp impacts for the carmaker, Tesla, which has he run since 2003.

“Attention focused on Twitter instead of golden child Tesla has been another big issue for investors and likely is behind this poll results with many Musk loyalists wanting him to leave as CEO of Twitter,” Mr Ives said.

Musk has sold millions in Tesla stock since he took the reigns of Twitter.

This will “be a major positive for Tesla’s stock starting to slowly remove this albatross from the story,” according to Mr Ives.

He believes it signals “Musk finally reading the room that has been growing frustration around this Twitter nightmare that grows worse by the day.”

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Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Australia’s inflation report and Nvidia earnings impact explained

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Published

5 days ago

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February 26, 2026

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Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.


Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.

David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.

On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.

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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights


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U.S. stocks rally as AMD, Home Depot, and AI software lead gains

U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

Published

6 days ago

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February 25, 2026

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U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

U.S. tech stocks surged as investors’ fears over AI disruption eased. Advanced Micro Devices jumped 9% after Meta announced a multiyear deal to deploy AMD’s graphics processing units for AI data centres. The move highlights growing corporate confidence in AI infrastructure investments.

DocuSign also rose 3% following Anthropic’s confirmation that Claude Cowork can integrate with DocuSign, Google Drive, and Gmail, signalling stronger adoption of AI tools across industries.

The iShares Expanded Tech-Software Sector ETF climbed 2% despite remaining over 30% below its 52-week high, showing tech stocks are recovering but still have room to run.


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Stocks tumble amid AI concerns and Trump tariff update

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

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1 week ago

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February 24, 2026

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Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.

Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.

Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.

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