© Reuters Truth Social (DWAC) Up 17% on Twitter rumors of Elon Musk leaving the deal (TWTR)
Shares of Donald Trump’s Truth Social (which will go public through a merger with Digital World Acquisition Corp (DWAC)) are trading up more than 16% in after-hours trading on Friday.
Profits are due to rumors Elon Musk is leaving a controversial deal to acquire Twitter (NYSE :)) for $44 billion – Tesla (NASDAQ:) and the CEO of SpaceX are claiming that Twitter violated breach its contractual obligations.
The rumor isn’t surprising – shortly after the initial acquisition announcement, the social media giant and eccentric billionaire got entangled in a heated debate about the actual number of bots on the Twitter platform.
Elon Musk said the programs represent 20% of Twitter accounts, while the company insists its official claim is less than 5%.
Twitter’s board announced it was still committed to the deal at $54.20/sh or ~$44 billion.
TWTR stock is losing more than 5% in hours, gaining another 5% in Friday trading.
By Vlad Schepkov
