Musk could try not to make Twitter purchase after all

The deal has been put on hold, but is this an attempt by Musk not to make the Twitter purchase after all?

Elon Musk has big plans for Twitter. That’s why he plans to the platform to take over. But Twitter’s share of the stock market took a hit last Friday after Musk said he would put his takeover of the social media company “temporarily on hold”.

Musk and the Twitter Purchase

This statement has created a lot of confusion. The question many people are now asking is whether a deal will still come as analysts predict the Tesla billionaire could be looking for an excuse to back out. Or renegotiate a lower purchase price.

Shares of Twitter fell about 10% on Friday after Musk said he would put his planned $44 billion acquisition “on hold” until he learns more about the number of fake and spam accounts on the platform. Musk’s “bizarre” tweet will send the “Twitter circus show to a Friday the 13th horror show,” Wedbush analyst Dan Ives wrote, with “many questions and no concrete answers about the path of this deal going forward.”

The market

The markets are reacting as if he is pulling out of the deal, which could very well be a possibility, according to Michael Hewson, chief market analyst at CMC Markets, who added: “This is straight out of the Musk playbook, leaving shareholders on their toes. ”

While Musk may be nervous about proceeding, “this move in isolation is likely to lead to more uncertainty and chaos within Twitter, which could negatively impact his own business prospects,” notes CFRA analyst Angelo Zino.