Elon Musk sent Twitter’s stock on a rollercoaster ride early Friday as he claimed that his $44 billion deal to take over the site was “temporarily on hold” — then insisted hours later that he was “still committed” to the buyout.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” the Tesla CEO said in an early Friday tweet at 5:44 a.m.

Twitter’s stock then dipped more than 25% to as low as $33.79 in pre-market trading — far below Musk’s marijuana-themed purchase price of $54.20, indicating investors were betting the deal wouldn’t go through. 

Elon Musk says Twitter deal ‘temporarily on hold’ (nypost.com)

I don’t believe that is the reason. More than likely they are dumping stock because they figure advertiser will cancel if they eventually find out they have been spending money on pushing their wares on automated accounts that do not spend money. Basically, they were bamboozled by Dorsey Und Company and will no longer advertise with the platform.

Cybernetic ghosts do not buy shit.

PS: Musk may end up buying the company for pennies.

 

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By Miguel.GFZ

Semi-retired like Vito Corleone before the heart attack. Consiglieri to J.Kb and AWA. I lived in a Gun Control Paradise: It sucked and got people killed. I do believe that Freedom scares the political elites.

4 thoughts on “The decapitation of Twitter.”
  1. PS: Musk may end up buying the company for pennies.

    That was what I was thinking he was doing. By pushing the idea that he might not buy after all, and driving the market crazy, the price may dip quite a bit. Investors hate uncertainty.

  2. It’s long been suspected that many of Twitter’s user accounts are not real people, but fake bots or scam accounts. Now he gets to force then to publicly reveal the real number, with real penalties if they lie. Pass the popcorn, please.

  3. I read an article similar to this years ago about google.I forget the big company that started it, but they couldn’t quantify that the click count and adwords actually translated to dollars in their pockets. I had the same thing happen with Yelp. They offered $300 free for my business. And I started getting bills. I went back and forth with them to find out why, with my $300, I was getting bills.

    They wanted you to pay per click. Well, hell, some nob clicks on my page and I gotta pay? And how do I know it wasn’t a bot?

    Ended up deleting my account, even my personal account, and haven’t been to the site since.

    It’s all bullshit. They are using AI as a fluffer for imbeciles.

  4. If the number is 6% or 8%, not a big deal, maybe they knock a few bucks off the offer. If it is 20% or 40% (4X-8X), some bodies be going to jail for fraud.

    Remember the Tweet, “Elon didn’t buy the Company, He bought the Evidence.”?

    I personally would get out of Social Media stocks for awhile if I was invested in any of them. I think Musk is going to shine a light on some corrupt, but well known by insiders Social Media lies.

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