American businessman Elon Musk The confusion is back on Twitter. All it took was a message posted around 11am (in mainland Portugal) saying it had frozen the buying of this network, for Twitter shares to enter a sharp decline in trading before the New York Stock Exchange opened. The message became world news that the deal would be put on hold, prompting Musk to return to Twitter to clarify in second message: “I remain committed to the acquisition.”
In the first message, Musk wrote that he put in the work “I’m waiting“ [em espera] So you know how many fake accounts there are on the network after all. In its latest account offering, Twitter acknowledged it Increasing number of active users In the past three years. She noted that less than 5% of accounts will be false or their authors Spam emails (Unsolicited commercial messages).
Twitter deal is temporarily on hold with the suspended account backing up details that spam/fake accounts already account for less than 5% of usershttps://t.co/Y2t0QMuuyn
– Elon Musk May 13, 2022
The entrepreneur offered 41 billion euros via Twitter. The message quickly spread through the world press, indicating that the deal was on hold. However, so far, there has been no official confirmation of this scenario. exactly the contrary. Musk himself ended up correcting himself with a second letter confirming that he was still committed to the job. But the damage was done: Twitter posts “melted” (and then recovered). These are positive effects for Musk: Twitter, which wants to buy it, fell more than 17% in trading before the opening of the stock market on Wall Street; And Tesla (which he already owns and whose shares he wants to offer as collateral for a bank loan) is up 5%.
After the opening of the New York Stock Exchange, Twitter down nearly 11% (around 3 p.m. in mainland Portugal). On the other hand, Tesla maintained its bullish trend at around 5%.
In the location From the US stock exchange regulator, the Securities and Exchange Commission, there is no documentation about a possible suspension. She will have to wait and see if there is any official communication or if, as in August 2018, just rants by Musk with serious implications for market behaviour.
On August 7 of that year, the businessman He wrote that he would consider taking Tesla out of the stock market. in the following hours, That company’s shares rose. A month and a half later, the Securities and Exchange Commission File a lawsuit against Musk for fraudAccusing him of inventing a company he did not intend to do and influencing the behavior of the market. after three days, Musk reached an agreement with the Securities and Exchange Commission to avoid prosecution: In exchange for filing the complaint, I accepted a $20 million fine. Had to Step down as Chairman of the Board of Directors (However, providing the position of CEO); And before that, all messages that have a potential financial impact on Tesla must be pre-approved by lawyers.
In light of this past, we look forward to further developments in this case. Twitter purchase is not held by a tweet. Official information will be needed. In contact with Reuters, neither side has made statements so far. However, shock waves in the stock market continue.
The last Twitter-related document was filed with the SEC two days ago. It is about the Saudi prince who agreed to give up his shares in a purchase led by Which color musk.
Musk was not prevented from tweeting about a potential purchase of this network, but he was restricted in what he could post. This is what defines Pre-agreement delivered at the end of April to the Securities and Exchange Commission. Musk will have to refrain from criticizing Twitter’s current management team or posting messages with material and financial impact on Twitter. This is exactly what he achieved today, simply tweet. What will be the understanding of the Securities and Exchange Commission, owners and managers of Twitter?
The agreement itself states that the transaction must be concluded within six months from the date of the first offer, that is, by October 24. Since then, Musk has sold nearly $9 billion of Tesla stock and He got great support from friends and other investors. Everything seemed to be on track, even this letter from Musk, an intention that, up to this point, is suspicious.
The agreement also specifies a penalty clause of $1 billion. If Musk doesn’t raise the money, or turn his back without justification, he will have to pay that amount to Twitter. On the other hand, if the network owners abandon the business or start trading with other investors, they will have to pay the same amount to Musk. In this context, it becomes more clear that a tweet to suspend work. but only one tweet To see the stock revolve around.
The news changed at 1:05 pm: The first completely unsigned story has been replaced by this author.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.