Twitter’s Shares Fall By 11% After Elon’s Exit

Twitter’s shares fall as investors react to Elon Musk’s exit.

Twitter’s shares fell by over 11% after Elon Musk abandoned the hyped up $44 billion deal on Sunday.

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Analysts have warned that Elon Musk pulling out of Twitter deal could create a potentially disastrous long-term scenario.

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Earlier, Twitter announced that they will file a lawsuit against Musk for abandoning the deal.

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Musk’s team argued that the social media platform did not provide accurate information about the number of spam bots.

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The tech billionaire might have to pay up to $1 billion in breakup fee included in the original takeover agreement.

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Some analysts have described the ongoing situation as Code Red for the microblogging platform.

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Twitter is all set to go head to head against the world’s richest personality in what seems to be a lengthy court battle.

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