Highlights

  • Elon Musk puts Twitter deal on temporary hold
  • Twitter shares slumped 11 percent pre-market

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Elon Musk: Twitter deal on hold

Twitter shares slumped 11 percent pre-market after Musk’s tweet, while Tesla’s gained as much as 4.9 percent. 

Elon Musk announced on Friday that the Twitter deal has been put on a temporary hold.

"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users", Musk tweeted citing a Reuters report.

Also read/watch| Terra's Terror: Crypto reality strikes; outrage as LUNA coin disappears

Twitter shares slumped 11 percent pre-market after Musk’s tweet, while Tesla’s gained as much as 4.9 percent.

Shares of Tesla and Twitter have tumbled this week as investors deal with potential legal issues surrounding Tesla CEO Elon Musk and his $44 billion bid to buy the social media platform.

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