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Disclaimer
Summary: X (formerly Twitter) is one of the largest and culturally most relevant social media platforms. However, since its acquisition by Elon Musk in late 2022, it has been a privately held company not listed on any stock exchange. Nonetheless, investors can still invest in X indirectly, for example, by buying shares in Tesla Inc, Musk’s other company, on online exchanges such as eToro.
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What is X (Twitter)?
X, then Twitter, was created and launched in 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams. Some half a decade later, the platform had more than 100 million active users with 1.6 billion daily search queries.
Today, the site boasts an annual revenue of around $3 billion and platforms a number of public figures, politicians, organizations, and governments, having become somewhat of a public utility in the eyes of many. In 2022, its global market share grew by 55%, while Facebook, for example, saw a 12% loss.
X (Twitter) stock IPO
X used to be a public company from 2013 to 2022 when it was purchased by Elon Musk and delisted from the New York Stock Exchange. Today, it is a privately held company, and the general investing public cannot invest in it directly.
However, investors can seek alternative investment options by either investing in some of Elon Musk’s other companies or by buying shares in other social media platforms, such as Meta (Facebook and Instagram), Snapchat, and others.
Why is X private?
X, formerly Twitter, was a publicly traded company listed on the New York Stock Exchange. In 2022, Elon Musk purchased Twitter for $44 billion, taking the company private with shareholders voting to sell their stock in a tender offer. After the sale, Twitter, renamed X, was delisted from public exchanges and is now only traded privately among accredited investors.
How to buy X (Twitter) stock
Upon acquiring X, Musk stated that he planned on making the company public again in the next three to five years. How likely that is is hard to tell, and there have been no recent developments or statements issued by the company management.
This is unfortunate for those looking to invest in social media and X in particular, especially those with a stake in related companies like Tesla. Still, those not patient enough to wait for X’s new IPO have some alternative options at their disposal.
After all, while X still dominates the social media sphere, it is far from being the only platform. Indeed, there are a lot of messaging apps and media hosting sites with promising growth rates, so finding a good alternative to invest in, no matter your tastes and needs as an investor, should not be too difficult.
How to buy X stock alternatives
To invest in a solid X alternative, simply take the following steps:
Step 1: Research the market and choose an X alternative
Although it’s not as new as some of the current trends in the market, such as artificial intelligence-based (AI) chatbot ChatGPT developed by OpenAI, social media still has the power to surprise us, and it’s still a rather fast-growing industry. In fact, the number of social media users is expected to reach 4.4 billion by 2025.
With the statistics in mind, it is hardly surprising that the number of investors looking to capitalize on the growth of the industry has more than doubled in the past half a decade. That means that if you want to be a player in the market, you’ll have to do a lot of research, both on various companies you’d like to invest in and the market as a whole, as the hype and public sentiment are still among the major driving forces behind the popularity of most platforms.
Our top 3 picks
The most profitable social media stocks as of 2024 are:
- Meta Platforms (META): Meta owns Facebook and Instagram, which are still the preferred social media platforms among many demographics;
- Snap Inc. (SNAP): Snapchat boasts some 383 million daily users, so the market sentiment is obviously in its favor;
- Pinterest (PINS): Although not as popular as platforms such as Instagram, Pinterest is one of the largest image-sharing media platforms, with over 460 million global monthly users.
Step 2: Set up a brokerage account
To invest in an X alternative, you’ll have to find a good online broker that can give you access to your desired stocks. When choosing a broker, consider its:
- Reputation: Never settle for a broker that has no licenses that will guarantee the platform is legit. Most commonly, investors look for licenses issued by Financial Conduct Authority (FCA) or Financial Industry Regulatory Authority (FINRA). Of course, good user reviews are a plus;
- Fees and commissions: Brokers with low fees and no commissions, such as eToro, are usually favored;
- Range of offerings: More enthusiastic investors will welcome a broad range of financial instruments, such as stocks, mutual funds, ETFs, options, etc;
- Withdrawal and deposit options: The more deposit and withdrawal options, the better, as you won’t have to rely on third-party payment services when funding your account;
- Account minimums: High account minimums are usually a red flag.
Where to buy stocks
Our recommended broker is eToro, a major brokerage with millions of registered users and a range of useful features, such as:
- Commission-free stock trading;
- Access to over 2,000 stocks from 17 different exchanges;
- Charting tools;
- The option to purchase fractional shares.
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eToro USA is registered with FINRA for securities trading.
Step 3: Deposit funds into your account
Next, you can add some funds. eToro offers users a solid number of payment methods they can use to fund their accounts. You can link it to your bank account, scan physical checks, transfer funds from Wise, etc. You find all the necessary information on the broker’s funding page.
Step 4: Place a trade
Finally, you can start buying stocks with the funds you’ve transferred to your account. With eToro you can:
- Log in on the website;
- Click on the Trade button on the main dashboard;
- Look for the desired ticker symbol in the Enter a Symbol search bar (e.g., type META for Meta Platforms, PINS for Pinterest, or TSLA for Tesla);
- Specify the number of stocks you want to buy;
- Submit the trade.
Bonus step: Monitor and manage your investment
You may have the stock in your portfolio, but your investment journey is far from over. The world of social media is highly dynamic, so it will be wise to monitor your investment and see how it performs in the market compared to some of the competition.
The same applies if you’ve invested in some X-associated companies such as Tesla. If you’ve been keeping up with the news, you’ll know that Elon Musk has been known to come under a lot of flak due to his marketing and management decisions,
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy X (Twitter) stock
Is X publicly traded?
X has not been publicly traded since November 2022.
What happened to people who owned Twitter stock?
All shareholders were entitled to a payout for the value of their shares.
Does X have shares?
X used to be traded on the New York Stock Exchange as Twitter (TWTR), but it does not have its own stock anymore.
How to buy X stock?
X is a privately held company, so you cannot invest in it directly. However, you can invest in some other companies owned by Elon Musk, such as Tesla.
Who owns X?
X (formerly Twitter) is owned by Elon Musk.
Is the Twitter stock delisted?
Yes, the old Twitter stock was delisted.
What is the market capitalization of X?
As of Q3 2024, the market cap of X is $41.09 Billion
Who are the largest shareholders of X?
X is a private company, so there isn’t a lot of information out there. Elon Musk is certainly the largest shareholder by a wide margin. Following Musk comes Alwaleed bin Talal, who owns around 4% of the company.
Can you still buy Twitter stock?
No, the Twitter stock got delisted.
Is X on the stock market?
No, X is a private company.
Who owns the X website?
X is owned by Elon Musk.
Why did Elon Musk make Twitter private?
Elon Musk took Twitter private stating that taking Twitter private was necessary for it to function effectively as a free speech platform.
Will Elon Musk sell X?
There is no knowing whether Elon Musk will sell X. Such decisions depend on many factors, such as the performance and profitability of the platform.
What are the best social media stocks?
Some of the best social media stocks include Meta Platforms, Snapchat, and Pinterest
When did X stop being publicly traded?
X became a private company when Elon Musk bought Twitter in 2022.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
