Musk said Friday that his deal is on hold until he gets more information about how many fake accounts there are.
The stock plummeted after the announcement. A CNBC request for comment was not immediately responded to by a person from the company.
One of Musk's main priorities would be to removespam bots from the platform.
The company's market value had fallen to $9 billion because of concerns about the deal.
In a filing earlier this month, the company estimated that less than 5% of its daily active users were bots.
Musk, who is the world's richest person on paper, now wants the company to confirm this before he continues with the deal.
The firm said in the filing that it had 229 million users in the first quarter.
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