Musk says the deal with Twitter is on hold. Platform share prices are falling

Another day, another tweet

The contract with Twitter is temporarily suspended pending details confirming whether spam/fake accounts actually make up less than 5% of users.

Musk announced this morning.

This post is in response to the platform’s recently released Q1 estimate that fake or spam accounts accounted for less than 5% of daily monetized users.

In response , the platform’s shares soared   – at critical moments up to 20% in pre-session trading , which means the lowest price level since the beginning of April. The situation was softened by another entry in which Musk confirmed his interest in completing the deal . In general, the fall slowed down at around $41 per share at the beginning of the session.

What is Musk planning?

The $44 billion contract is still pending. Musk told what to expect if he does not stop halfway. 

The billionaire plans to remove “spam bots”, change moderation methods, introduce an algorithm that assigns appropriate priority to content, open source codes, reduce the influence of advertisers on the form of the platform and increase the role of paid subscriptions .

And all this to ensure the desired level of freedom of speech in an environment that he describes as a “digital city market” . This promises to be a positive change…if it happens.

What do you think about the chances of a successful deal and about Musk’s vision? Are you planning another success?

Source: Reuters; photo: Britta Pedersen/Pool via AP