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Elon Musk announced Friday that his Twitter deal is on hold until he receives more information about how many fake accounts there are on the social media platform.
In a follow-up tweet around two hours later, Musk added that he was “still committed to the acquisition.”
Twitter’s stock plummeted 18% in premarket trading following the initial announcement, but trimmed some losses after the second tweet. Shares were down about 11% after markets opened. A spokesperson for the social media company did not immediately respond to a CNBC request for comment.
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022