Twitter stock prices nosedived after tech billionaire Elon Musk announced that he intends to break his $44 billion agreement to purchase the social media giant.
A letter sent by the Telsa CEO’s legal team to Twitter on Friday, which was filed with the U.S. Securities and Exchange Commission (SEC), said that the agreement was being “terminated” due to Twitter allegedly making “false and misleading representations” regarding “fake or spam accounts on Twitter’s platform.” Twitter’s stock price quickly lost value following the news, dropping more than 6 percent after the market closed.
Read more at Newsweek.com
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