Twitter stock has fallen back to where it was before Elon Musk sparked takeover speculation by disclosing a 9% stake
Elon Muskannounced a 9% stake in the company in early April.
- Shares fell 6% to $38.31 Monday after tumbling 10% on Friday, when Musk said the deal is on hold.
Shares were changing hands at $38.31 on Monday, down 6%. That's below the $39.31 closing price on April 1, the last trading day before he disclosed a 9% stake.
Twitter's latest decline comes as Wall Street is growing increasingly skeptical that a deal with Musk will go through.
On Friday, he said the deal to takeover Twitter was "on hold" over reservations concerning fake accounts, or bots, on the platform. Musk has since reiterated his commitment to securing a deal, although some analysts say Musk could be using the bot issue as a scapegoat to abandon the deal for a breakup fee.
He raised new doubts about the deal after he tweeted on Saturday that Twitter's lawyers claimed he violated a nondisclosure agreement by revealing the sample size for the platform's checks on bots was 100.
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