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Elon Musk says his deal to buy Twitter is on hold

Elon Musk says he is continuing his efforts to buy Twitter, weeks after agreeing to take the company in a $ 44 billion deal. Musk posted on his Twitter account on Friday. The article sent Twitter shares up more than 20% in the premarket business. 5% of regular Twitter users are monetizable users during the first quarter.Musk provided details of its social networking company plans, although he has often talked about bot accounts that promote content and spam. He also said the company was quick to remove a database that violated content management standards. On Tuesday, Musk made headlines saying he would allow former President Donald Trump to return to Twitter as soon as it was completed. taking over power. Trump’s account was permanently removed after the attack on his White House on January 6, 2021. Earlier Musk tried to raise funds to seize power, and it is doubtful whether the deal will continue. after the Twitter committee approved. to offer on April 26. Musk says it will buy Twitter for $ 54.20. But Twitter shares have never approached that price, going below $ 50 for weeks. This is a sign investors are skeptical that Musk could do well on his offer. Wall Street commentators are not satisfied with Musk’s ability to buy Twitter, either – at least not at $ 54.20. The contract price was less than $ 52, and most put a “hold” value on the company’s shares. Part of the problem is Twitter’s connection to Tesla’s future. Musk, Tesla’s chief executive, is planning to lend a portion of his Tesla shares to fund the deal, but Tesla shares have fallen sharply along with many other shares this year. he also put pressure on the car’s engine. Having already done a large portion of Tesla shares somewhere, he was not left with a lot of youth if he needed more money to complete his Twitter business. Tesla shares rose 6% in Friday’s first trading session.

Elon Musk says he has stopped trying to own Twitter, weeks after agreeing to privatize the company for $ 44 billion.

Musk wrote on Friday that “Taking part in a temporary Twitter deal is awaiting details that support the statistic that the account / fake account represents less than 5% of users,” Musk wrote on Friday.

The article sent Twitter shares over 20% in premarket sales.

In his tweet, Musk links Reuters report who said Twitter revealed in a lawsuit filed Monday that fake or fake accounts represent less than 5% of Twitter users who earn regular income in the first quarter.

Musk has provided details about his social media company plans, although he has often talked about bot accounts that promote spam content. He also said the company was quick to remove accounts that contravened the content adjustment rules.

On Tuesday, Musk made headlines, saying he would allow former President Donald Trump to return to Twitter as soon as his term in office was completed. Trump’s account was permanently removed after his followers’ attack on the US Capitol on January 6, 2021.

Definitely from the beginning

Even if Musk worked to raise funds to receive it, doubts whether the deal would continue to spread since the Twitter board approved the offer on April 26.

Musk said he would buy Twitter for $ 54.20 percent. But Twitter shares have never approached that price, going below $ 50 for weeks. This is a sign that investors are skeptical that Musk will do well on his offer.

Wall Street analysts are not satisfied with Musk’s ability to buy Twitter, either – at least not at $ 54.20 per share. The contract price was less than $ 52, and most put a “hold” value on the company’s stock.

Part of the problem is Twitter’s connection to Tesla’s future. Musk, Tesla’s chief executive, is planning to lend a portion of his Tesla shares to fund the deal, but Tesla shares have fallen sharply along with other stocks this year.

Musk’s sale of a large number of Tesla shares to help fund his Twitter deal has also put pressure on car manufacturers. Since he has already implemented a large area of ​​Tesla shares somewhere, he is not left with a lot of young people if he needs more money to complete his Twitter business.

Tesla shares rose 6% in premarket sales on Friday.

Elon Musk says his deal to buy Twitter is on hold Source link Elon Musk says his deal to buy Twitter is on hold

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