Elon Musk announced Friday that the Twitter deal is on hold until he receives more information about how many fake accounts there are on the platform.
Twitter’s stock plummeted 19% following the announcement.
A spokesperson for Twitter did not immediately respond to a CNBC request for comment.
Musk announced last month that he intends to buy Twitter for $44 billion.
Even before Friday’s announcement, the company’s market cap had fallen to $9 billion beneath the offer price due to concerns about the deal.
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