Twitter stock

Shares of Twitter Inc. tumbled Friday, after Elon Musk said he was putting the deal to buy the social-media company "temporarily on hold" while he does his.

On April 25, Twitter agreed to be acquired by Musk for $54.20 a share. Since April 4, when Musk disclosed his Twitter stake, Tesla’s stock had plunged 36.4% through Thursday. Musk first disclosed his stake in Twitter on April 4, then said on April 14 that he was launching an unsolicited bid for the company. Dan Ives, the prolific Wedbush analyst, said the implications of Musk’s “bizarre tweet” will send this “Twitter circus show into a Friday the 13th horror show.” He said investors could now view the deal as falling apart, or that Musk is negotiating for a lower deal price or that Musk might simply walk away from the deal with a $1 billion breakup fee. But since Musk launched the bid, the closest Twitter’s stock came to closing at the $54.20 bid price was April 25, when it closed at $51.70. Shares of Twitter Inc. tumbled Friday, after Elon Musk said he was putting the deal to buy the social-media company “temporarily on hold” while he does his due diligence on fake accounts.

Twitter shares initially fell more than 20% in premarket trading, but after Elon Musk sent a second tweet saying he remained committed to the deal, ...

Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Musk tweeted a Reuters story from ten days ago that cited the fake account figures. Several companies repriced agreed acquisitions when the COVID-19 pandemic broke out in 2020 and delivered a global economic shock. Twitter is planning no immediate action as a result of Musk’s comment, people familiar with the matter said. Be smart with your money. Musk is contractually obligated to pay Twitter a $1-billion breakup fee if he does not complete the deal, and the language in the deal contract appears to cap any damages that Twitter can seek from Musk to that level.

In a tweet, the Tesla billionaire linked to a Reuters story from May 2 citing a financial filing from Twitter that estimated false or spam accounts made up ...

Musk’s tweet comes a day after the social media company fired two of its top managers. The Tesla equity share could go from $21 billion to $27.25 billion. The proposed deal continued to pressure shares of Tesla, which had already fallen 16 per cent this week. Twitter’s stock tumbled 18 per cent, and Tesla, which Musk had proposed using to help fund the Twitter deal, jumped five per cent. “Many will view this as Musk using this Twitter filing/spam accounts as a way to get out of this deal in a vastly changing market,” Ives wrote. He added that the Musk’s use of Twitter rather than a financial filing to make the announcement was troubling and “sends this whole deal into a circus show with many questions and no concrete answers as to the path of this deal going forward.”

After Musk tweeted that the Twitter acquisition was "on hold," financial analysts aren't sure the buyout will go ahead as planned.

Financial analysts were split on whether Musk’s bot concerns had put the deal in jeopardy. Twitter has also struggled, announcing an overcount of user numbers in its most recent earnings and continuing to operate at a loss. Twitter had claimed in a filing that bots compose less than 5 percent of daily active users on the platform, although many believe the real figure is higher.

Elon Musk caused chaos over his takeover bid for Twitter Inc, first claiming his bid was “temporarily on hold” and then maintaining he is “still committed” ...

A few hours later he sent another tweet saying he is “still committed” to the deal. The billionaire initially sent an early tweet saying the $44 billion deal is pending until he receives more information about the proportion of fake accounts on the social media site, which sent Twitter stock tumbling as much as 25% in premarket trading. Elon Musk sowed new chaos into the market over his takeover bid for Twitter Inc. on Friday, first claiming his offer was “temporarily on hold” and then maintaining he is “still committed” to the deal, sending the social media giant into a tailspin.

Hindenburg Research founder, who recently shorted Twitter, was in a jubilant mood when the social giant's stock price went tumbling early in the session.

“We have performed an internal review of a sample of accounts and estimate that the average of false or spam accounts during the first quarter of 2022 represented fewer than 5% of our [daily average users] during the quarter,” Twitter revealed in its first-quarter letter to shareholders. In a Twitter post, he said he needs to confirm first whether the number of fake accounts is indeed as low as management has said. As of Friday, it looks as if Elon Musk has found in the company’s bot analysis the excuse he may have been looking for to try to renegotiate the $44 billion price tag on his Twitter bid—or drop it entirely.

Elon Musk said Friday that his planned $44 billion US purchase of Twitter is "temporarily on hold" pending details on spam and fake accounts on the social ...

The Tesla equity share could go from $21 billion to $27.25 billion. Musk's tweet comes a day after the social media company fired two of its top managers. The issue of fake accounts on Twitter is not secret. Stock in both Twitter and Tesla swung sharply in opposite directions Friday, with Twitter's stock falling nearly 10 per cent and shares of Tesla, which Musk had proposed using to help fund the Twitter deal, jumping nearly seven per cent in trading before the opening bell. A review of Twitter filings with the U.S. Securities and Exchange Commission shows that the estimate of spam bot accounts and similar language expressing doubts about it have been in Twitter's quarterly and annual reports for at least two years, well before Musk made his offer and it would have been known to him and his advisors. In a tweet, the Tesla billionaire linked to a Reuters story from May 2, citing a financial filing from Twitter that estimated false or spam accounts made up fewer than five per cent of the company's "monetizable daily active users" in the first quarter.

Twitter (TWTR -8.79%) shareholders were taken on yet another wild ride this morning after Tesla CEO Elon Musk -- who is attempting to acquire the social ...

But Musk sent shareholders into a tizzy this morning after he posted a tweet saying that the deal is "temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users." If that proves true, it's possible Musk could try to renegotiate the deal. Just two hours later, Musk followed up with another update, saying that he was still committed to the deal.

Shares of the social-media company fell after Elon Musk said his deal to buy it was “on hold.”

- Saks Fifth Avenue:$20 off sitewide + free shipping - Saks Fifth Avenue coupon Shares of Twitter shed $4.36, or 9.7%, to $40.72, its the lowest level since April 1, just before Mr. Musk disclosed a surprise 9% stake in the company. You may cancel your subscription at anytime by calling Customer Service.

It was a rocky week for Tesla shares– until Musk's early Friday tweet. That helped the electric vehicle maker regain some lost ground.

And with Musk having indicated that he’s no longer interested in pledging his Tesla shares to secure additional debt financing (he’s already pledged more than half his Tesla stake as collateral for loans pre-acquisition), it’s likely that the rest of his equity commitment will have to come from outside investors. Even if he were to secure that financing, it’s unclear where most of the additional $27.3 billion equity commitment he made to Twitter’s board will come from. Forbes estimates Musk has about $8 billion of cash on hand after selling more than $8 billion of Tesla shares last month (pre-tax) and pledging to sell no more. “If it looks like Musk may call the [Twitter] deal off, Twitter stock could fall like a stone, as the deal price is all that is supporting it today.” According to Wedbush analyst Dan Ives, who covers Tesla, the partial rebound of the electric vehicle maker’s shares Friday reflects investor sentiment that the deal is now less likely to happen, despite a follow-up tweet by Musk two hours later Friday morning that he is “still committed to acquisition.” With a single tweet at 5:44 AM Friday, Tesla and SpaceX chief Elon Musk simultaneously placed his $44 billion Twitter takeover on hold and demonstrated the platform’s power to move markets.