Twitter jumps after social media company reportedly plans to give Elon Musk treasure trove of data to disprove bot theory

• Twitter stock jumped 3% on Wednesday after a report said the company would give Elon Musk access to a wealth of data.
• The ‘firehose’ of data provided to Musk could refute the billionaire’s theory that around 20% of Twitter accounts are robots.
• Investors see development as Twitter nears completion of Musk’s $44 billion takeover.

Twitter the stock jumped as much as 3% on Wednesday, erasing losses early in the morning after The Washington Post reported that the social media company plans to give Elon Musk a wealth of data.

Twitter will offer Musk access to a “firehose” of data that should satisfy his request to investigate the proportion of accounts on the social media platform that are bots before finalizing its $44 billion buyout. Twitter previously pegged that number at around 5%, but Musk thinks the real number is around 20%.

The board will allow Musk access to a massive data stream consisting of more than 500 million daily tweets, according to the report. The handover of the data could take place as early as this week, and investors see it as a sign that Twitter is getting closer to closing the acquisition deal.

Twitter already offers the data feed to around two dozen companies that pay for access, suggesting the company can be confident that Musk won’t find anything that contradicts its own findings about Twitter’s number of accounts. spam.

The decision reported by Twitter only comes in two days after Musk sent a letter to the company accusing Twitter for violating their merger agreement by “actively resisting” requests for spam and fake account information. Some argue that Musk put himself in this scenario by agreeing to waive his right to due diligence when buying the company.

Last month, Musk said he was suspending the deal as he managed to determine how many Twitter accounts were real and how many were fake. But Musk’s ‘pending’ tweet also came as the widest stock Exchange fell, which means Musk probably could have bought Twitter for less had he waited longer. Additionally, Musk is committing more than $30 billion of his own wealth to the Twitter deal, much of it tied to You’re here Stock.

Whether Tesla Stock continues to decline, as it has over the past month, this could put additional pressure on Musk’s financial flexibility in terms of getting the deal done.