Elon Musk Tweets That The Twitter (TWTR) His Acquisition Of The Social Media Platform Is Paused
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Summary:
- Elon Musk put the twitter deal on hold.
- Stock prices drop.
Elon Musk Tweets that twitter deal is on hold
On Friday Elon Musk tweeted that the deal to buy out twitter has temporarily been put on hold. Elon Musk claims to be awaiting data on the proportion of fake accounts on the social media platform.
This pause in the acquisition is likely to cause frustrations for many people in the company
In the wake of Musk's tweet, the share price of twitter has fallen by almost 15%. Musk Tweeted “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”
This pause in the acquisition is likely to cause frustrations for many people in the company, especially given that many executives have been laid off already during company restructuring. The question lies in when the deal will be back on the table.
TWTR Price Chart
Sources: finance.yahoo.com
