Twitter Stock

Analysts and employees warned Musk set the stage for a turbulent period, which could carry financial risks and leave workers more frustrated.

The company stressed that the firehose is not enough to understand the state of bots on the platform. A left-leaning watchdog group said Musk’s filing highlights why the deal has been fraught from the start. “It was a political firestorm that Musk inserted himself into and now there’s going to be many of twists and turns again,” Ives said. But as the stock market has been roiled by a global sell-of of tech stocks, Tesla share values plummeted in the wake of the deal. “There’s been a general lack of belief that the deal would go through as signed.” Twitter does not ban all bots, which include purposeful automated accounts, such as those that post otter pictures on the hour or the temperature in a specific location. “The best result for shareholders will be closing the deal at $54.20, even with a hostile owner.” Musk began complaining about the bot issue soon after he agreed to purchase and take the company private this spring. In a Friday evening news release, Twitter’s board threatened to “pursue legal action” to enforce the terms of the $44 billion deal Musk struck in April to buy the social network and take it private. “Is he a material kind of guy who just changed his mind?” she said. Twitter could be forced make key business metrics public, inviting questions from Wall Street about the overall health of the company, which turned its first profit in 2018 amid a major financial retooling. Legal experts say Musk’s case doesn’t meet a threshold to allow him to walk away from the deal.

Twitter stock fell in late trading Friday after reports surfaced that Elon Musk will terminate his $44 billion effort to acquire Twitter.

Musk's team initially halted discussions on the deal in April, claiming that Twitter had lowballed the number of spam accounts. But action in Twitter stock showed there was plenty of uncertainty as to whether it would go through or not. In after-hours trading, Twitter was down 6.2% to 34.50.

Elon Musk terminated his agreement to buy Twitter Inc. on Friday, and Twitter's chairman promised a legal fight.

In a letter sent to Twitter’s TWTR chief legal officer on Friday, the Tesla Inc. TSLA and SpaceX chief executive claimed that he was ending the agreement because Twitter would not share requested information with him, and the information that was shared, he contended, had confirmed his belief that there were more bots on the service than Twitter claims in its securities filings. Elon Musk is backing out of his agreement to buy Twitter Inc., and Twitter’s chairman has already promised a legal fight.

The ongoing saga between Elon Musk and Twitter (TWTR) is getting even more complicated as both sides appear to be digging in for a fight over whether the ...

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