Twitter, Inc. was spiking up over 3 percent on Tuesday after falling almost 28 percent beginning on May 5 to reach a $36.85 low, putting Tesla, Inc. CEO Elon Musk in the red on the 9.2 percent stake he took in the social media app on March 14.
The majority of the recent decline was caused by the implication that Musk’s deal to buy Twitter for $54.20 per share (announced on April 25) is on the brink. Musk has recently demanded proof from Twitter’s CEO Parag Agrawal, to show that the proportion of bots on the microblogging app are less than 5 percent, which Musk claims Agrawal has refused to do….