Twitter Stock Collapses 20% as Musk Says $44 Billion Deal is ‘Temporarily On Hold’, Tesla (TSLA) Shares Rally
2022.05.13 13:34
Twitter (TWTR) Stock Collapses 20% as Musk Says $44 Billion Deal is ‘Temporarily On Hold’, Tesla (TSLA) Shares Rally
Shares of Twitter (NYSE:TWTR) are down nearly 20% in pre-market Friday after Elon Musk, who agreed to take the company private in a $44 billion deal, said the deal is “temporarily on hold”.
The social media giant said in a filing on Monday that false or spam accounts represent fewer than 5% of its monetizable daily active users.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted, quoting a Reuters story about false or spam accounts on Twitter.
Tesla (NASDAQ:TSLA) stock price is up 7% on the other hand.
By Senad Karaahmetovic
