NEWS

TWITTER AGREEMENT PENDING
06-01-2022
Twitter Agreement Suspended

Elon Musk had bought Twitter recently, but due to contractual problems, he suspended the acquisition for a while. He also called the acquisition plan “holding”. Such a suspension of the 44 billion investment seems to have created negative aspects for both parties. In the past days, I couldn't even log in to Twitter. Musk stated that he suspended the purchase due to fake accounts. In the past days, he stated in a tweet that he wanted to know the number of bots on Twitter.

He suspects that the fake accounts are more than 5% compared to the real ones and wants proof of this. Bots and fake accounts are constantly being created on Twitter and every social media, and the exact numbers are almost never given. Silver said the following on this subject: “For Musk, this is a familiar thing and I think his purpose is different.

Bot counts were made on Twitter in 2017 and it was revealed that the number of bots was created by almost 15% of users, although it is not clear. Such a figure is really too much for the number of bots. The real number is still unclear, and Elon Musk does not plan to completely buy Twitter without knowing this figure.

It has also been confirmed that Twitter bots are a huge benefit to Tesla. During Tesla's downfall, hundreds of bots sent thousands of tweets, increasing the value of the shares. Tesla and its supporters have never claimed responsibility for these bots. While Twitter shares are depreciating in the current process, we can clearly see that Tesla shares are gaining in value.

The Securities and Exchange Commission sued Tesla and Musk after they sent a tweet last fall asking their followers if they would sell their Tesla shares. A court filing said Musk did not have the necessary pre-approval.

Last month, a federal judge in New York denied that Musk had tried to break the agreement, saying he signed the agreement under duress and violated free speech. The judge also upheld Musk's subpoena.

The controversy stems from an agreement Musk signed with the Securities and Exchange Commission in October 2018. He and Tesla agreed to pay a $20 million fine for Musk's tweets about "safe financing," by privately buying Tesla for $420 per share. However, funding is not yet available and Tesla remains a public company.

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