Elon Musk announces a deal with Twitter to hold details about fake accounts

Elon Musk declared Friday that his Twitter contract is currently on hold pending further information regarding the number of fake accounts on the social media platform.

Musk replied to that tweet two hours later by saying that he was still committed to the acquisition.

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The Twitter stock plunged 18% in premarket trades following the initial announcement. However, some losses were trimmed after the second tweet. The shares closed at 9.7%. CNBC reached out to the spokesperson of the social media company for comment but they did not respond immediately.

Tesla CEO Musk last month stated that he plans to buy Twitter for $44Billion. He previously tweeted that one of his top priorities would be to get rid of spam bots from the platform.