Elon Musk said his deal to buy Twitter was on hold pending details on the amount of fake accounts on the social-media platform, prompting a sharp slide in the company’s shares in premarket trade.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Mr. Musk said in a tweet early Friday. He linked to a May 2 Reuters report about a recent Twitter securities filing with those statistics.

This post first appeared on wsj.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Individual Income Tax Payments on Pace to Reach Record Level

WASHINGTON—An unprecedented gush of income tax revenue is flowing into the federal…

‘Bean Dad’ apologizes for thread about daughter, racist tweets

John Roderick, a musician, podcaster and lead singer of the band The…

George Carlin’s daughter slams AI imitation of late father, decries ‘rape & pillage’ of his art

More than 15 years after his death, stand-up comedian George Carlin has been brought…

Disney Stock Tumbles as Streaming Losses Spook Investors

Share Listen (2 min) This post first appeared on wsj.com