Elon Backpedals!

Elon Musk has put his takeover of Twitter “temporarily on hold” over concerns about the number of spam and fake accounts on the social media platform, raising doubt over whether he will complete the $44bn deal at all. Elon announced on Twitter today that the deal was being held “pending details supporting” a calculation in the company’s regulatory filings suggesting that the number of fake accounts on the platform represents under 5 per cent of its 229mn users. The statement immediately hit Twitter’s share price, with the stock tumbling about 10 per cent. Patrick's Books: Statistics For The Trading Floor: amzn.to/3eerLA0 Derivatives For The Trading Floor: amzn.to/3cjsyPF Corporate Finance: amzn.to/3fn3rvC Patreon Page: www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: podcasts.apple.com/us/podcast/patrick-boyle-on-fin… Google Podcasts: tinyurl.com/62862nve Join this channel to support making this content: youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

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