After the entrepreneur’s announcement about the suspension of the purchase of the company, its shares fell by 15.57% to $38.06 per paper.
Entrepreneur Elon Musk, who is acquiring Twitter, announced on Friday the suspension of the implementation of the transaction to purchase the company due to the expectation of confirmation of data on the number of fake accounts in the social network of the same name.
“The acquisition of Twitter has been temporarily suspended pending information confirming estimates that spam accounts and fake accounts account for less than 5% of users,” Musk said in a Twitter post.
After Musk’s announcement about the suspension of the purchase of the company, its shares fell by 15.57% on Friday, to $38.06 per paper, according to data from the NASDAQ stock exchange.
Later, the entrepreneur added that he did not leave the intention of buying the company. “I still intend to acquire [Twitter],” Musk wrote on the social network.
Against the background of the entrepreneur’s assurances, Twitter shares on the premarket played back part of the fall caused by the announcement of a pause in the acquisition process. Their value, according to NASDAQ, falls to 11.89%, to $39.78 per paper.