Featured Stories

Elon Musk puts Twitter purchase on hold over fake accounts

Elon Musk
FILE – In this March 2, 2019 file photo, Elon Musk, CEO of SpaceX, speaks during a news conference after the SpaceX Falcon 9 Demo-1 launch at the Kennedy Space Center in Cape Canaveral, Fla. Tesla plans to cut its board of directors from 11 to seven in a move the car maker says will allow the board to act more nimbly and efficiently. Tesla says the four directors who will depart aren’t leaving because of any disagreement with the company. Tesla disclosed the changes in regulatory filings Friday, April 19, 2019. (AP Photo/John Raoux)

Elon Musk put his bid to buy Twitter on hold in order to confirm that fake accounts indeed make up less than 5% of monetizable daily active users on the platform during the first quarter.

The social media company had 229 million users who were served advertising in the first quarter.

Musk agreed to buy Twitter for about $44 billion last month and as of this morning, Twitter was worth about $35 billion dollars.

Right after Musk’s tweet, the price of Twitter’s stock plunged more than 25 percent.