Twitter shares are down 17% after Elon Musk said the deal is on hold

As mentioned earlier, Elon Musk wants to buy Twitter but for now the deal is on hold: billionaire is waiting for information about trash accounts.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk posted on social media.

Musk also provided a link to a May 2 Reuters article quoting Twitter’s filing on Monday. It said the amount of false or spam accounts represented fewer than 5% of platform’s monetizable daily active users during the first quarter.

In April Musk claimed that Twitter should be cleaned of bots.

“If our twitter bid succeeds, we will defeat the spam bots or die trying!,” Musk tweeted. “And authenticate all real humans.”

Read also: Elon Musk is going to overturn Donald Trump’s ban in Twitter.