11:01 GMT27 February 2021
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    Last week, Elon Musk joined the Reddit users' GameStop stock raid by posting the word "Gamestonk" on his Twitter account apparently referring to the popular meme "stonks".

    Eccentric billionaire and head of Tesla and SpaceX Elon Musk on Tuesday announced he'll be taking a break from Twitter.

    He did not elaborate why he was taking such a move, which triggered a massive response from Twitter users saying they already miss him.

    Elon Musk is an active Twitter user, usually sharing memes and connecting with his fans and sometimes his companies' clients. In a recent development, Musk took to Twitter to comment on the recent GameStop stock exchange issue, calling shorting "a scam".

    A group of Reddit users recently developed a plan to fight back against hedge funds, which had shorted firms like GameStop, AMC, BlackBerry, and Nokia, by buying the stocks of the companies. The massive spike in the value of those companies' stocks, GameStop in particular, has cost billions in losses to the said hedge funds. Elon Musk rode along almost from the beginning, fuelling the virality of the event with his Tweets.

    Comments like these from a person with such influence, however, have already got him into trouble. In 2018, the SEC sued the entrepreneur over tweets he sent a month earlier claiming he had secured funding to take Tesla private at $420 a share. Musk was then required to pay a $20 million fine and step down as Tesla's chairman for three years.

    Tags:
    Twitter, SpaceX, Tesla, Elon Musk, US, USA
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