Twitter Deal Can’t Proceed with Bot Count Clarity -Elon Musk
Tesla Chief Executive Elon Musk said his planned takeover of Twitter for $44 billion can’t proceed until there is clarity on the proportion of fake accounts on the social media platform, according to his most recent tweet Tuesday.
In its 10-Q filing earlier this month, Twitter said that the average of false or spam accounts in Q1 represented fewer than 5% of its average monetizable daily active usage in the quarter.
Musk, however, estimates that the proportion of fake accounts is 20% or higher. READ: Elon Musk Becomes Twitter’s Largest Shareholder
“My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does,” Musk said.
Twitter shares were down 2.4% in recent premarket trading Tuesday, while Tesla shares added 3.2%. #Twitter Deal Can’t Proceed with Bot Count Clarity -Elon Musk