Twitter Stock Collapses 20% as Musk Says $44 Billion Deal is ‘Temporarily On Hold’, Tesla (TSLA) Shares Rally

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The social media giant said in a filing on Monday that false or spam accounts represent fewer than 5% of its monetizable daily active users.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted, quoting a Reuters story about false or spam accounts on Twitter.

Tesla (NASDAQ:TSLA) stock price is up 7% on the other hand.

By Senad Karaahmetovic