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    Paused Twitter: there may not be a deal – Elon Musk’s statement leads to a fall in social network shares

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    Elon Musk, the tech mogul, has said his deal to buy Twitter is on hold. Immediately, the shares of the social network began to fall in price, and the Tesla company began to grow.

    Deal may not happen, Elon Musk’s statement leads Twitter shares to fall / Photo: Getty Images, unsplash.com

    Elon Musk says that The deal to buy Twitter is “temporarily on hold.” This comes after the social network “reported” that fake or spam accounts make up less than 5 percent of its 226 million monetized daily active users.

    Musk

    Musk / Photo: REUTERS, Collage: Today

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    The Tesla CEO himself, who recently proposed buy Twitter for $44 billion, tweeted a link to a May 2 Reuters report on Twitter registration. Musk said he wants to see the company’s calculations.

    The Twitter deal is temporarily on hold pending details supporting calculations that spam/fake accounts do represent less than 5% of users, Musk tweeted.

    However, in a subsequent tweet, he added that he was “still committed to this acquisition”, suggesting that the deal will continue after Twitter provides satisfactory information about its numbers.

    Twitter's share price plunged 20 percent immediately after news of the hold on the deal

    Twitter’s share price plunged 20 percent immediately after news of the hold on the deal

    Eventually Twitter’s share price fell 20 percent in one go after the news of the hold on the deal, while Tesla, whose CEO is Elon Musk, rose 6 percent.

    The suspension of the deal represents the latest blow to Musk’s attempt to take over from social media. The company initially announced a so-called “poison pill” measure to prevent a takeover before At the end of April, I agreed to the ransom.

    We also wrote that Elon Musk proposes to connect the brain with a computer using the Neuralink prosthesis.

    Source: Segodnya

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