Big crypto supporter Elon Musk is an inch closer to Twitter takeover but faces another obstacle in his path
Time Person of the Year and Dogecoin geek Elon Musk said Twitter’s daily user base could be almost entirely made up of bots or spammers. The unpleasant statistics for the company may not end well for the market price of its shares.
According to Musk’s statement, spam accounts may actually be the most profiles on the platform. So many accounts created solely for spamming or scamming authentic users are a black mark on the company’s reputation and, potentially, stock.
In addition to suffering reputational damage, Twitter may face serious issues with advertisers, as daily active users are the primary metric considered when calculating ad effectiveness.
Previously, the entrepreneur stated that he is yet to see any analysis that would provide the platform’s stated less than 5% mark on the number of fake, spam or duplicate accounts on social media.
The number of genuine accounts and real active daily users is one of the main points of consideration for someone who wants to buy one of the largest social media platforms in the world.
As news about Musk’s intentions to deeply check the most important metrics provided by the platform appeared in the space, investors started rapidly selling their Twitter stock, causing a massive 10% drop on the market.
Back when rumors of Musk’s potential Twitter purchase hit the space, TWTR stock rose over 55% and hit a four-month high at one point. But over time, Musk faced various hurdles in overtaking the platform, which dispelled investor optimism.
