Technology

Elon Musk says Twitter transactions are “temporarily pending” due to investigating spam and fake accounts.

London- Elon Musk said on Friday that Twitter’s planned $ 44 billion purchase was “temporarily suspended” while spam and fake account details on social media platforms were pending.

In a tweet, Tesla’s Billionaire linked to a May 2 Reuters article, and according to financial filings from Twitter, first-quarter fake or spam accounts were the company’s “monetary daily active.” It is estimated to be less than 5% of “users”.

“Twitter is temporarily holding pending details that support the calculation that spam / fake accounts actually make up less than 5% of users,” Musk said, with fewer fraudulent accounts. He said he was particularly skeptical.

It was not clear if the problem could close the deal. Both Twitter and Tesla stocks fluctuate sharply in the opposite direction, with Twitter stocks dropping 17% to $ 37.20 before trading in the U.S. to be used by Musk to fund Twitter trading. Tesla, who proposed, soared 5%. Twitter’s share price is well below $ 54.20 per share that Musk has agreed to pay the company.

Calling Musk’s tweet “strange,” Wedbush Securities analyst Dan Ives said, “The impact of this tweet will send this Twitter circus show to the horror show on Friday the 13th. We are negotiating at a lower transaction price, or 3) Musk will only leave the transaction with a $ 1 billion split fee. ”

Investors had to consider the legal issues of musk and the potential for the acquisition of Twitter to interfere with the management of the world’s most valuable carmakers.

Mask’s tweet is the day after the social media company Dismissed two of the top managers.. According to Twitter, the company has suspended most hires except for important roles, “reducing non-labor costs to ensure responsibility and efficiency.”

In a note sent to employees and confirmed on Twitter, CEO Parag Agrawal has begun investing “aggressively” to expand its user base and revenue, after which the company has reached a milestone in growth and revenue. Said not reached.



https://www.cbsnews.com/news/elon-musk-twitter-deal-temporarily-on-hold/ Elon Musk says Twitter transactions are “temporarily pending” due to investigating spam and fake accounts.

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