Elon Musk, during an event at SpaceX headquarters in Hawthorne, California, US, on Thursday, October 10, 2019.
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In the midst of a takeover deal TwitterElon Musk called on the US Securities and Exchange Commission to look into the social network’s user numbers.
Musk, CEO of Tesla and SpaceX, in an unofficial Twitter poll on Tuesday, “Twitter claims that over 95% of its daily active users are real, unique human beings. Does anyone have this experience?” Then, in response to a follower, who suggested that the Securities and Exchange Commission begin an investigation, he said, “Hello Tweet embed-Anyone at home? “
The Securities and Exchange Commission has been aware of Twitter’s obscure metrics for years.
Musk agreed to buy Twitter last month for $44 billion, but has since said the deal is on pause as it looks at bots, spam and fake. Twitter said it still expects the deal to go through at the agreed price of $54.20 per share.
Investors have been dumping shares over fears that Musk will abandon his agreement, which could force him to pay a $1 billion breakup fee. Twitter stock has given up all of its gains since Musk first disclosed his 9% stake in the company early last month.
Twitter shares rose 2.5% Tuesday to $38.33, below the closing price of $39.31 on April 1, the last trading session before Musk revealed his minority ownership.
in that Financial deposit for the first quarter of this yearTwitter has acknowledged the existence of a number of “fake or spam accounts” on its platform, along with legitimate daily active use or users (mDAUs). The company said it estimated the average fake or spam accounts to account for less than 5% of the mDAU over that period.
Twitter He also admitted to overstating the number of users by 1.4 million to 1.9 million over the past three years.
“In March of 2019, we launched a feature that allows people to link multiple separate accounts together in order to easily switch between accounts,” Twitter revealed. “An error occurred at the time, actions taken across the primary account resulted in all linked accounts being counted as mDAU.”
Musk has repeatedly expressed his contempt for the Securities and Exchange Commission, including on Twitter at October 2018when the agency was called the “Short Enrichment Committee”, and in July 2020 When he wrote: “SEC, three letters abbreviated, the middle word is Elon.”
The SEC previously indicted Musk for securities fraud in 2018 after he tweeted that he was considering taking his auto company at $420 per share and that “funding was secured.” They reached a settlement agreement to resolve the matter. But Musk said that the financial regulator Ongoing investigations up to harassment.
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