“They claim that they’ve got this complex methodology that only they can understand … It can’t be some deep mystery that is, like, more complex than the human soul or something like that.” Twitter shares extended losses in late afternoon trading following Musk’s comments.
The stock dropped more than 8% to close at $37.39, lower than its level the day before Musk revealed his Twitter stake in early April, sowing doubts that the billionaire entrepreneur would proceed with his acquisition of the company at the agreed price. Twitter Chief Executive Officer Parag Agrawal tweeted earlier on Monday that internal estimates of spam accounts on the social media platform for the last four quarters were “well under 5%,” responding to days of criticism by Musk of the company’s handling of phony accounts.
