Also breaking news on most other financial publications….
“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.”
The story with the fake accounts is likely just a smokescreen to drive the acquisition price down given the market slump. Maybe his pre-acquisition agreements with Twitter didn’t contain any clauses about adjustments should the stock market decline considerably in the meantime. So, here is his escape route: Fake accounts.
He will probably try to push down the deal price to 20 – 25bln USD. And that’s likely enough to blow up the whole deal.
no positions in twitter or Testla here!