Twitter’s TWTR -9.67% stock has lost its perch and hasn’t found a safe landing spot yet. Elon Musk tweeted early Friday morning that his deal to buy the social network is “temporarily on hold” pending details of how the company calculates its user base. Two hours later, Mr. Musk tweeted, “Still committed to acquisition.” Twitter CEO Parag Agrawal also tweeted later in the day that he still expects the deal to close. Twitter’s stock was already about 17% lower than that at Thursday’s close—an unusually wide spread reflecting growing skepticism that Mr. Musk will go through with the transaction, at least at the agreed upon price. Mr. Musk still could go through with the deal, but it was hardly a sure thing from the beginning.

Source: Wall Street Journal May 13, 2022 21:26 UTC