Elon Musk is nothing short of unpredictable, so he was true to form in an astonishing announcement… he’s slamming the deal on Twitter, and the reaction is telling.
Elon just said he was temporarily suspending his Acquisition of Twitter for $44 billion, and the stock fell in premarket trading – down 25%. The reaction is interesting…if the mainstream opinion was against Elon buying Twitter, you’d think the stock might have risen, or at least held steady.
As for why Elon is holding back the deal…he says he wants to make sure spam and other fake accounts make up less than 5% of the platform’s 229 million users.
There are other theories… maybe it’s his way of getting out of the deal altogether, but that’s not usually how he rolls. The other game would be to make the folks at Twitter nervous that he’s stepping down and then he’ll come back and offer less than the $44 billion.
BTW…Musk has long said he wants to remove “spambots” from the social media giant.
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