Tech »  Topic »  Musk Presses Pause On Twitter Deal Because Of Spam Bots

Musk Presses Pause On Twitter Deal Because Of Spam Bots


Elon Musk tweeted that his $44 billion deal for Twitter is "temporarily on hold" pending details that support the social media platform's calculation that spam/fake accounts make up less than 5% of its users. Twitter stock fell more than 20% following his tweet, but since his follow-up tweet stating he was still committed to the deal, the company's stock has regained some of its ground.

Since Musk made his "best and final offer" to buy Twitter, technology stocks have taken a hard hit amid concerns over inflation and a potential economic slowdown. Shares for the company were down 10% to $40.50 during morning trading on Friday, which is in stark contrast to the $54.20 per share acquisition price.

Spam or fake accounts, often referred to as bot accounts, are typically used in order to manipulate or artificially boost activity on services such as Twitter. The ...


Copyright of this story solely belongs to hothardware.com . To see the full text click HERE