ReutersShares dropped more than 8% to close at $37.39, lower than their level the day before Musk revealed his Twitter stake in early April, sowing doubts that the billionaire entrepreneur would proceed with his $44 billion acquisition of the company at the agreed price.Shares dropped more than 8% to close at $37.
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. “So how do advertisers know what they’re getting for their money? This is fundamental to the financial health of Twitter,” Musk wrote.
Musk has called for tests of random samples of Twitter users to identify bots, and said he has yet to see “any” analysis that shows spam accounts making up less than 5% of the user base.Independent researchers have estimated that anywhere from 9% to 15% of the millions of Twitter profiles are bots.
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