Twitter stock fell 4% in pre-market trading on Friday after the Washington Post reported Elon Musk’s $44 billion deal to purchase the social media firm is “in serious The Post said Musk’s team has pulled back from certain discussions about the purchase and that his team has decided it is unable to verify Twitter’s data on how many spam accounts are present on the platform. The company’s shares had plunged 4.07% to $37.21 as of 5.15 a.m. ET in pre-market trading. Normal US trading hours begin at 9.30 a.m. Musk’s deal to buy Twitter and take it private at a price of $54.20 a share is now at risk as the Tesla CEO has questioned the social media platform’s data on spam or bot users. Musk, the world’s richest person put the deal “temporarily on hold” in May, saying he wanted more details to verify Twitter’s claim that spam or fake accounts amount to less than 5% of users. A spokesperson for Twitter said they have no further comment beyond one released in June: “Twitter has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement. We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement at the agreed price and terms.”
