Elon Musk announced this morning that his deal to buy Twitter is temporarily on hold. It’s over a company filing that spam/fake accounts make up less than 5% of users.
The Reuters report, which is from May 2nd, states Twitter estimated in a filing that false or spam accounts represented “fewer than 5% of its monetizable daily active users during the first quarter.” The filing also said the company “faced several risks until the deal with Musk is closed, such as whether advertisers would continue to spend on Twitter” and “potential uncertainty regarding our future plans and strategy.”
This is all there is that’s publically available. Could this be a lot of people overreacting to a Musk tweet? It wouldn’t be the first time that’s happened. Twitter at one point was down 25% in pre-market trading on the news. It’s “only” down 14% as I’m writing this.
What I’m confused by is that
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