Musk says $44 bln Twitter deal on hold over fake account data

May 13- Elon Musk tweeted on Friday that his 44 44 billion cash deal for Twitter Inc. (TWTR.N) was “temporarily held” while he was in charge of the social media company’s fake accounts. Awaiting data from .

Shares of Twitter initially fell more than 20% in pre-market trading, but Musk, the chief executive of the electric car market Tesla Inc. (TSLA.O), was followed by another tweet stating that he was committed to the deal. Yes, they reclaimed some land.

Shares were down 9.6% at .7 40.71 in Friday afternoon trading, a huge discount on the acquisition price of $ 54.20 per share.

Musk, the world’s richest man, agreed to buy Twitter on April 25 and decided to resign in an attempt to get his “best and final offer” to the San Francisco-based company. This can make it difficult for him to argue that Twitter somehow misled him.

Since Musk signed its deal to acquire Twitter, technology stocks have fallen amid investor concerns over inflation and a possible economic slowdown.