Elon Musk announced that he has put his $44 billion acquisition of Twitter on hold pending a review of fake/spam account data.
Even billionaires can get a sense of buyer’s remorse — for some weird reason. Elon Musk announced on Friday he is temporarily putting the Twitter deal on hold pending a review of fake/spam account data. Musk holding off on the $44 billion acquisition of the social media platform shook up the stock market in the process. Twitter’s shares nosedived by more than 10% to $40.50 at market opening, trading $14 below the acquisition price of $54.20 per share. In his announcement tweet, The Tesla CEO shared a Reuters article addressing the question of whether fake and spam accounts comprised less than 5% of all accounts on Twitter, which the company claimed in its SEC filing on May 2.
