Twitter Inc (NYSE:TWTR) shares are trading lower Friday following reports that Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s deal to buy the social media company is in peril.
According to a Washington Post report, Musk’s $44 billion takeover bid may be in jeopardy as the parties struggle to find common ground on the actual number of bot accounts on the social media platform.
“Elon Musk’s deal to buy Twitter is in serious jeopardy,” sources reportedly told the Washington Post.
Related Link: On Again, Off Again: Is Elon Musk’s Deal To Buy Twitter In Jeopardy Again? Depends On Who You Ask
Several reports also suggest that Twitter laid off 30% of its talent acquisition team, which could be adding to the selling pressure today.
Wedbush analyst Dan Ives maintained Twitter with a Neutral rating and lowered the price target from $54 to $43 on Friday morning.
TWTR Price Action: Twitter has traded between $73.34 and $31.30 over a 52-week period.
The stock was down 3.87% at $37.28 at press time, according to data from Benzinga Pro.
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