Elliott Management buys more Twitter stock after earnings rout

Elliott Management is staying big believers in Twitter (TWTR) after a mixed first quarter earnings report sent shares down 15% on Friday.

The well-known activist firm is back in the market Tuesday buying more of Twitter's stock, a source familiar with the matter tells Yahoo Finance. The amount of the purchases could not be learned.

Elliott — which disclosed a stake in Twitter last year and pushed for a shake-up of the social media giant that ultimately led to key partner Jesse Cohn joining the board — is fresh off buying $200 million of the company's stock on Friday's steep sell-off.

The current size of Elliott's stake could not be determined.

Elliott isn't the only one buying Twitter's stock on a pullback. Widely followed tech investor Cathie Wood at Ark Investments reportedly scooped up $71 million in Twitter's stock on Friday's rout.