Twitter shares were down 6.6% in premarket trading following Elon Musk's decision to scrap his planned $42 billion takeover of the social media platform with fears that legal action could ensue.
- The stock was trading at $34.40 on the New York Stock Exchange at the time of writing.
- Tesla CEO Elon Musk scrapped his $42 billion takeover of Twitter, claiming that the number of spam of fake accounts on Twitter was much higher than the 5% it had claimed.
- Twitter's board said it remained "confident" that the deal will close and planned to pursue legal action to enforce it.
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