Wall Street Rewired: Apple, Icahn, and the $17 Billion Tweet

“With just two tweets, Carl Icahn raised the value of the Apple empire by $17 billion. That’s $8.5 billion per tweet, and about $62 million per character — including spaces,” writes Cade Metz of Wired.

Indeed, the Securities and Exchange Commission has recently said that companies can use social media to disclose financial information — provided they warn investors that it might happen. Icahn’s investment outfit, Icahn Enterprises, did warn the market, saying — in a notice filed with the SEC a day earlier — that he intended to “use Twitter from time to time to communicate with the public about our company and other issues.”

And even that may not have been necessary. With his Tuesday afternoon tweets, the only thing Icahn revealed about his own company is that it owns some Apple stock. You could argue that such a basic disclosure didn’t require formal notice with the SEC.

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