Elon Musk puts Twitter (TWTR) deal on hold pending supporting info on bot stats
Elon Musk is altering the deal. Pray he doesn't alter it any further, Twitter shareholders.
Elon Musk just tweeted out that he is putting the deal to acquire Twitter on hold pending further explanation of the company's claim that less than 5% of users are bots.
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
A Twitter (TWTR) filing on Monday made the bold claim that less than 5% of its monetizable daily active users during the first quarter were bots. Apparently Musk isn't buying it, and he should know as someone whose replies are filled with crypto shills and verified accounts that claim to be him. Then again, Twitter does define the term active user differently than its competitors, so the company could be telling the truth based on its own specific way of calculating these stats.
Alongside his rhetoric about making Twitter a public square for free speech, Musk has made claims that he would rid the platform of spam bots. Based on his reaction to Twitter's recent disclosure, it seems that he believes the company is understating the problem.
If our twitter bid succeeds, we will defeat the spam bots or die trying!
— Elon Musk (@elonmusk) April 21, 2022
Just yesterday, rumors spread across the Internet that Musk would no longer be using margin debt on his Tesla shares to pay for this Twitter deal. Now he may be stuck paying the $1 billion breakup fee if he walks away from the agreed-upon $44 billion acquisition. Could this get any messier? Keep it locked on Shacknews to find out.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
Full Disclosure:
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long Twitter via TWTR shares
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replyAsif Khan posted a new article, Elon Musk puts Twitter (TWTR) deal on hold pending supporting info on bot stats
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No he was totally for real going to spend $43 billion dollars on it.
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Actually yeah, that sounds on-brand for him.
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That, plus Tesla's stock is also down. And Tesla also holds a ton of bitcoin, which has cratered. All the financials of the deal are out of whack now.
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I don't know anything about how this works, but Asif says he's still on the hook for a billion dollars? Seems kind of reckless just for the lols.
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a totally inconsequential amount of money to Elon
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What a charade.
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Why is this kind of naked manipulation allowed lol. Like this seems so incredibly obvious what is happening.
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I don't know much about the stock market and I think Elon Musk is a total prick and probably a cancer for humanity, but I do not quite understand how this is manipulation? Didn't he say he'd buy the company for x$ per share? Does this change if the value of the company drops? Isn't it bad for him when the stocks fall? Either way I think he should not be allowed to discuss an ongoing deal in public about a public company.
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He maybe is using his power to destroy/hurt Twitter and sink it’s stock. He can back out (at a loss of 1b) but he may choose to come back after it’s ruined and dirt cheap . He seems like he is fucking with it now
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I see. Thanks for the explanation!
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And when he was the quiet introvert quirky nerd. Not the elitist right winged memer hes become.
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"Was going to buy TWTR - NO DEAL. Was told certain # of accounts - FAKE NEWS, there are many RIGGED & FRAUDULENT robotic members!"
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As time passes they merge into one consciousness
Delon Trumsk
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Or did he just want to say "robotic members"?
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Sounds like post-twit clarity
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Some of my favorite Twitter follows are bots. The funny harmless ones that search for and retweet combinations of words, procedurally generate images or phrases, and just general Good Bots™.
But for every one of those, I do have to imagine that there are probably thousands of xxx1234 bots from propaganda farms and marketing firms. I don't really have anything to say or offer a solution, just that if all bots were gone my feed would be markedly worse.
¯\_(ツ)_/¯ -
turns out jack picked yet another bad strategy for running Twitter
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