Twitter shares closed Thursday's trading day up 3% after the company announced that the deal to sell the company to Elon Musk for $44 billion continues, and the deal price of $54.20 per share will not be reviewed. A little earlier, Musk shared on the social network the news that his deal with Twitter has been suspended because he has to study the number of fake accounts. Twitter itself has stated that only about 5% of its accounts are fake, while Musk believes that this number is closer to 20%. Independent research companies also provide their own figures. It’s known that Elon Musk planned to deposit more than $10 billion of his Tesla shares as collateral to get financing for the purchase of Twitter. However, if he refuses the deal, the penalty for breaking the agreement will be $1 billion. Some observers of the deal and ordinary users even suggested that Musk could have tried to avoid paying this amount, saying that there are more bots and fake accounts on the Twitter platform than the company initially stated. As a result, this uncertainty about the future of the deal is reflected in the spread between the offer price and the current market price. Now the gap is $16.46, almost unchanged from the moment when Musk announced the suspension of the deal. So, in the near term, Twitter shares may remain volatile and react sharply to the news background around the deal.
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