Musk Puts Twitter Deal on Hold

Not so fast…

That is what Elon Musk is telling Twitter right now.

Reports broke very early this morning that Musk has slammed the brakes on the deal to verify “spam/fake” accounts on the platform.

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Musk is now seemingly concerned that there are far more fake accounts than the platform had previously reported.

Musk plans on monetizing the platform far more than it already is, so an overabundance of fraudulent accounts would dramatically impact his earnings projections.

Twitter claims that less than five percent of the overall accounts are fake or spam accounts.

So, he is having it verified before writing that massive check…

Musk looked to quell the panic after his initial announcement, letting everyone know that he is still “committed to acquisition.”

The Twitter board accepted the initial offer of $54.20 per share in April.

Twitter is currently trading at $40.51 per share, down 10.14 percent as of 9:18 a.m. CDT this morning over panic that the deal could be off the table.

If the deal is killed, it will be a devastating blow to Twitter stockholders anticipating a massive payout, but will probably take significant losses instead.

Source: Fox Business

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5 Responses

  1. Musk won’t fall for fraud.
    This is how every business operates
    Overvalue stock and sell .
    I would believe 25 percent of fake accounts if the Hillary Clinton system is followed….LETS GO BRANDON!

  2. Get rid of the dumb democrats. In my 81 years I have never seen such ignorance.

    1. Yes Ruth there is a Santa Claus! Easter Bunny, Tooth Fairy and a smart Democrat but not in the history of this country,

  3. Just close eyes, shut off tv , internet , social media and liars networks
    then you can live in bliss
    happy , and when all hell breaks out , you have lived a good , bliss life

    well no so in our country

    Time to wake up , speak out , stop the stupid , fire the incompetant rejects in office , and have extreme oversite on the greed , money laundering , un accountability for actions

    Time to put politicians in Jail for actions
    have same law s for all , not just public

    have politicians pay for thier crimes , in JAIL , and Pay Back the money they steal thru money laundering thru Ukraine and other countries

    STOP the Traitors

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