In the latest tweet, Elon Musk said the acquisition of Twitter “will be postponed” indefinitely. The reason is that Musk thinks that the number of virtual accounts (clones) on this platform is too large, about 5% of the total number of accounts.
Immediately Twitter shares fell 17.7% to $37.1. According to experts, 5% of accounts are virtual (clones) which is completely normal and has been existed for a long time. This is just Elon Musk’s excuse, might he doesn’t have enough cash. Although this number is calculated by Twitter itself and announced in early May 2022.
Still committed to acquisition
— Elon Musk (@elonmusk) May 13, 2022
“The bots are angry at being counted”, Elon Musk scoffed.
The bots are angry at being counted 🤣
— Elon Musk (@elonmusk) May 14, 2022
According to Reuters, they believe this is Elon Musk’s stock price manipulation trick to lower the price of Twitter shares. Or a way for Elon Musk to get out of this deal.
After Elon Musk’s announcement, while Twitter’s stock price fell, Tesla’s stock price rose.