Twitter shares jump as Hindenburg takes long position

• Hindenburg warned Twitter’s lawsuit against Musk could pose a threat to Tesla and SpaceX

Twitter Inc (NYSE: TWTR) shares jumped as much as 7.5% on Wednesday after short-seller firm Hindenburg Research said it has taken a “long position” in the social-media company after it sued Tesla Inc (NASDAQ: TSLA) Chief Executive Elon Musk.

Hindenburg didn’t give any details on how many shares it has bought.

The company said in a tweet, “We have accumulated a significant long position in shares of Twitter. Twitter’s complaint poses a credible threat to Musk’s empire.”