Twitter crash on Wall Street after suspension of purchase of Elon Musk | The World | D.W.

Elon Musk announced on Friday (5/13/2022) that he is provisionally suspending the purchase of Twitter, pending details on the proportion of fake accounts on the social network.

“The agreement on Twitter is temporarily suspended,” announced, precisely on Twitter, the richest man in the world and head of Tesla. Following this message, the group’s share fell 20 percent in electronic trading prior to the opening of the Wall Street stock market, standing well below the $54.2 per share proposed by the billionaire.

After the earthquake that emerged after Musk’s announcement, the tycoon said he remained committed to the purchase of Twitter: “I remain committed to the acquisition,” he wrote hours after the first announcement. Following this precision, Twitter limited its losses, giving up about 10 percent in electronic trading before the opening of Wall Street, after collapsing after the first announcement.

Musk made eradication of fake accounts and user transparency central to his purchase of Twitter, for which he offered $44 billion in April 2022.

MS (ape/afp)

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