Tesla owner Elon Musk announced Friday via Twitter that he would await the purchase of the microblogging site until he had a better overview of how many of the user accounts are fake or automated.
Musk’s statement could indicate that he fears that Twitter has underreported this issue.
“The Twitter agreement is temporarily on hold pending details that support the calculation, which says that spam / fake accounts actually represent less than five percent of users,” Musk tweeted.
The share price of Twitter immediately fell around ten percent, according to Market Watch.
Two hours later, he posted a message that he is still willing to buy.
The damage had already happened. The stock was worth $ 40.70 apiece at closing time on Wall Street, compared to $ 45.08 when it opened, and landed about ten percent lower than it opened.
Otherwise, there was a lot to smile about on the New York Stock Exchange on Friday. The Nasdaq rose 3.82 percent to 434.04, while the Dow Jones rose 1.47 percent to 32,196.66. The broader S&P 500 index climbed 93.81 points or 2.39 percent to 4,023.89 points.
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