Since Elon Musk purchased a significant share in Twitter several weeks ago, the company has given up all its gains.
Last month, Musk disclosed that he bought a 9 percent stake in the social media platform. But as of Monday afternoon, shares of Twitter dropped another 6 percent, sending its price down to $38.25—the lowest closing price it’s had since April 1, or the last trading session before Musk revealed he took the 9 percent minority ownership of the company.
About three weeks later, Musk and Twitter’s board announced the billionaire would purchase the company for $44 billion.
Late last week, Musk said that the deal to buy Twitter was placed on hold until he finds out more details about fake accounts and bots that are present on the platform. Hours later, he wrote that he’s “still committed to acquisition.”
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