(Bloomberg) -- Twitter Inc. shares tumbled after Elon Musk tweeted that his $44 billion takeover of Twitter Inc. is “temporarily on hold” over a filing stating fake accounts contribute less than 5% of its users.
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Twitter slumped 20% pre-market after Musk’s tweet, and Tesla shares rose roughly 5%.
Twitter said in a previous filing “that the average of false or spam accounts during the first quarter of 2022 represented fewer than 5% of our monthly daily active users during the quarter.”
Musk said in a statement announcing his deal to buy Twitter last month that he wants to defeat spam bots, authenticate all humans and make its algorithms open source.
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