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Musk Confirms Twitter Deal on Hold on Twitter!

The latest tweet by billionaire Elon Musk has confirmed that his much talked about takeover deal of Twitter (TWTR) has temporarily been put on hold due to the pending fake account issue.

Shares of the microblogging site crashed by more than 18% during pre-market trading as the news broke.

In Twitter’s Q1FY22 results, the company stated that “the average of false or spam accounts during the first quarter of 2022 represented fewer than 5% of our mDAU during the quarter.”

However, it remains to be seen if the bots or spam accounts do actually represent less than 5% of monetizable daily user accounts (mDAU), or if they are higher. A reason which has led Musk to stall the deal till further clarity is achieved on the same.

Notably, Musk’s tweet does not clarify what steps are being taken to verify the representation of bots in the mDAUs.

The tweet is flooded with replies from fans who are lauding their idol’s stand. While several are bashing Musk stating that it’s all just a gimmick to drag Twitter’s stock price down and revalue the buyout deal amount.

Nonetheless, the Musk and the Twitter saga continues to amuse the masses with newer stories hitting the market ever so often.

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