Twitter Stock Drops After Elon Musk Looks to Nix Deal
Elon Musk’s effort to terminate his deal to buy Twitter sent shares of the social-media company tumbling, as investors prepare for what is expected to be a messy courtroom battle.
Twitter shares fell 9.7% to $33.26 in midday trading. The move follows Mr. Musk’s disclosure to securities regulators Friday that he is seeking to abandon his $44 billion deal to buy Twitter and take it private, saying that the company hasn’t provided the information he needs to assess the prevalence of fake or spam accounts.
