Musk reportedly says Twitter deal at lower price ‘not out of the question’

Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019.

Musk said a deal at a lower price wasn't out of the question, but he didn't say what he would do.

According to reports, Musk made the comments while speaking at a summit hosted by Chamath Palihapitiya, David Sacks, and David Friedberg.

The social media company's stock closed down more than 8% as investors fear that Musk will walk away from the deal.

All gains made since Musk disclosed his investment in the company have been erased. Musk said Friday that the acquisition was on hold while he researched the proportion of fake and spam accounts on the platform.

According to the report, Musk estimated that 20% of users are fake. The accounts made up less than 5% of the daily active users.

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