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Twitter Share Price Drops After Musk Tries to Back Out

Elon Musk doesn’t think he can unlock Twitter’s “extraordinary potential” after all. After signaling that he may be getting second thoughts about buying Twitter Inc. (TWTR) for $44 billion, the Tesla chief and self-proclaimed “free speech absolutist” has decided to renege on his offer to acquire the social media platform and take make it private, claiming that Twitter was in “material breach” of the acquisition agreement and failed to provide the information needed to assess the prevalence of fake or bot accounts.

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