Elon Musk says Twitter deal on hold pending details on fake accounts; shares plunge 18%

Elon Musk says Twitter deal on hold pending details on fake accounts; shares plunge 18%

  • Twitter’s stock plummeted 18% following the announcement.
  • Musk announced last month that he intends to buy Twitter for $44 billion.
  • He’s tweeted that one of his main priorities would be to remove “spam bots” from the platform.

Elon Musk announced Friday that his Twitter deal is on hold until he receives more information about how many fake accounts there are on the social media platform.

Twitter’s stock plummeted 18% following the announcement. A spokesperson for Twitter did not immediately respond to a CNBC request for comment.

https://www.cnbc.com/2022/05/13/elon-musk-says-twitter-deal-on-hold-pending-details-on-fake-accounts.html

JOIN OUR NEWSLETTER

Signup today for free and be the first to get notified of breaking news.

SIGN UP FOR OUR NEWSLETTER

Sign up for Breaking Alerts, our newsletter putting timely and updated stock and crypto markets news into your hands.

Add New Playlist