Will Elon Musk be able to close his Twitter deal?

When Elon Musk announced that the twitter deal was on ice share prices started to tumble back down towards key daily support at 32.00. Elon Musk’s concerns was over how many of Twitter’s accounts were so called ‘spam accounts’ However, the deal is not entirely off.

On Tuesday Elon Musk stated that a viable Twitter deal is ‘not out of question’ at a lower price. Furthermore, Twitter CEO’s Agrawal says internal estimates of spam accounts for last 4Q were ‘well under 5%. This is in contrast to Elon Musk who said that there was ‘no way to know’ the number of bots on Twitter, but the lowest estimate would be 20%.

So, will Elon Musk push through with the Twitter deal? Will he solve the spam account issue and work out how many bots there really are? If he does note that twitter has some extremely strong seasonals in play now.

Over the last 8 years Twitter has gained an average of 151.25% between May 18 and July 23. The largest gain was in 2021 with a 39.63% profit. The company only lost value during this period once! Time for more gains to come?