Twitter Stock Drops After Elon Musk Looks to Nix Deal
Elon Musk’s effort to terminate his deal to buy Twitter Inc. sent shares of the social-media company falling in premarket trading, as investors prepare for what is expected to be a messy courtroom battle.
Twitter fell 6.5% in recent premarket trading Monday to $34.41, putting shares on pace for their biggest drop in nearly two months. 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.
