Elon Musk says the Twitter deal is on hold pending details on the fake accounts

Elon Musk, during an event at SpaceX headquarters in Hawthorne, California, USA on Thursday, Oct.18 10, 2019.

Bloomberg / Getty

Elon Musk announced Friday that the Twitter the agreement is suspended until more information is received on how many fake accounts there are on the platform.

Shares of Twitter plunged 19% after the announcement.

A Twitter spokesperson did not immediately respond to a CNBC request for comment.

Moss announced last month which intends to buy Twitter for $ 44 billion.

Even before Friday’s announcement, the company’s market cap had dropped to $ 9 billion below the offer price due to concerns over the deal.

This is breaking news, please check back later for more information.