Early Monday, Musk tweeted four images of himself laughing alongside captions that read: “They said I can’t buy Twitter. Then they wouldn’t reveal information about bots. Now they want to force me to buy Twitter in court. Now they have bot disclosures in court.” This was soon followed by a photo of actor Chuck Norris playing chess with just one pawn on his side of the board and a full set of pieces on the other side, with Musk tweeting, “Chuckmate “Late Friday, Musk revealed he was backing out of his deal to buy Twitter, citing a lack of information on the number of Twitter users made up of bots. His lawyer said that put Twitter in “material breach of multiple provisions” of the original agreement.
Twitter responded by saying it “will take legal action to enforce the merger agreement.”
Twitter ( TWTR ) investors aren’t laughing. Shares of the social media platform fell 5% in early premarket trading on Monday. The stock was already well below the April purchase price of $54.20 a share, closing Friday at $36.81. But other tech stocks are also sharply lower since April, including shares of Tesla ( TSLA ), the main source of Musk’s world-leading stock net worth. Tesla shares have fallen 31% since Musk’s initial Twitter holdings were revealed in April. Tesla shares rose 1% in premarket trading.
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