US billionaire Elon Musk remains “committed” to buying Twitter. He made it known himself in a message on the platform, a few hours after declaring the deal “temporarily suspended” pending “new details on the calculations according to which i fake or spam profiles represent less than 5 percent of users“. Words that caused Twitter’s stock to plummet by more than 20 percent at the opening of Wall Street. However, the company’s value has returned to growth after Musk’s renewed commitment to the operation. announced last month on a basis of $ 54.2 per share, or $ 44 billion. Shares in Tesla, the electric vehicle manufacturing company founded by Musk, have also lost 29 percent of their market value in the past month.
Musk wants to renegotiate the deal
According to some analysts quoted by the “Wall Street Journal”, the richest man in the world may have decided to use the latest data provided to the public by Twitter to renegotiate the deal. In its latest quarterly report, the social company said it estimated that fake or spam accounts represented 5 percent of active daily users over the same reporting period. However, the same figure was provided in the previous February update.
Down Twitter by 21%
The stock drops 21% in the pre-market while Tesla earns around 5% “The average of fake or spam accounts during the first quarter of 2022 represented less than 5% of our monthly daily active users” over the period, Bloomberg reports citing a Twitter document.