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. Musk’s decision to pause the Twitter acquisition due to an active investigation into the fake accounts implies that the figures may be higher than the company claimed.
Since Musk’s April 25 purchase offer of Twitter, and the board’s acceptance, thousands of Twitter users deactivated their accounts because they didn’t want to use the app under an owner they dislike while thousands more created new accounts, which caused celebrities to simultaneously lose and gain followers. Even if the acquisition goes through, Musk says he will be CEO of Twitter for only a few months.
The ultimate pump and dump
fake attention don't hit the same huh
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Elon Musk Puts Twitter Take Over on Hold, Twitter Shares TankUPDATE: elonmusk put his $42 billion takeover of Twitter on hold till it can be verified that the social media site has less than 5% of spam or fake accounts. Musk's tweet sent Twitter shares plummeting to under $39. By OKnightCrypto elonmusk OKnightCrypto Get it now under a discount 😎 elonmusk OKnightCrypto LOL, elonmusk OKnightCrypto In more important news, NATO has surrounded russia in last 48 hours. This may not end well.
Source: CoinDesk - 🏆 291. / 63 Read more »
Elon Musk: Twitter deal 'temporarily on hold'Elon Musk says his plan to buy Twitter is “temporarily on hold” as he tries to pinpoint the exact number of spam and fake accounts on the social media platform, another twist amid signs of turmoil over the proposed $44 billion acquisition
Source: WOKVNews - 🏆 247. / 63 Read more »
Elon Musk says Twitter deal 'temporarily on hold'Elon Musk says his planned $44 billion purchase of Twitter is 'temporarily on hold' pending details on spam and fake accounts on the social media platform. Elon: hey guys, it’s me 💜 you just haven’t heard from me in a few hours, so I needed everyone to know I’m still Heard, I mean, hear, haha j/k, love you all. You all love me, right? 😁 Right? Musk weeks ago: I’m buying twitter so I can fix all this sh*t!” Musk now: “I’m not buying twitter until they fix all this sh*t!”
Source: KSLcom - 🏆 549. / 51 Read more »
Elon Musk says Twitter deal 'temporarily on hold'Elon Musk has tweeted that the Twitter deal is temporarily on hold due to the high number of fake accounts. Epic level trolling Is it that weird that people feel the need to talk about subjects with strangers and without leaving a mark? Opinions change, people change. I don’t want people to know who i am and what i said 5 years ago. The internet is a wild west. Its for my own safety. This is a really interesting development as Twitter says less than 5% are fake/spam accounts but has elonmusk's due diligence shown this to be wrong and a much higher number? Could this lead many other issues around Twitter's filings being questioned?
Source: IntEngineering - 🏆 287. / 63 Read more »
Elon Musk says he's put the blockbuster Twitter deal on pause over fake accountsElon Musk brought more drama to his bid to buy Twitter on Friday, saying the deal was 'on hold' while he investigated the volume of fake accounts on the platform. Experts speculated the move could be a precursor to negotiating down the sale price.
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Elon Musk faces a federal probe over late disclosure of his initial Twitter stake | EngadgetThe US Securities and Exchange Commission (SEC) is investigating Elon Musk's belated disclosure of his purchase of more than 5 percent of Twitter's share.. What are these probes everyone keeps talking about. How do they insert them? (it appears)Unnecessary lawfare & borderline harassment; least about rule-based regulatory course o(if) action Democrats way of slowing down the purchase. I bet you the matter won't be solved until after the election. 🤔 How convenient! 🤔
Source: engadget - 🏆 276. / 63 Read more »