Elon Musk Says Twitter Buy Is On Hold


Elon Musk's bid to buy Twitter might be on pause.

Musk tweeted this morning that his plan to buy Twitter was "temporarily on hold" over a report of spam/fake accounts on the platform. He called for more detail about a finding that fake accounts make up less than five percent of users. Here’s why it’s important: a keystone of Musk’s plans for Twitter include wiping out spam bots.

It was not immediately clear if any official steps had been taken to halt the acquisition, which was agreed to last month with a price tag of about 44 billion.

Twitter was worth about 35 billion dollars this morning. Why? Because right after Musk's tweet, the price of Twitter's stock plunged more than 18-percent.

Source: Fox Business


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