No Elon Musk Deposition? Why Twitter Shares Are Spiking Today

No Elon Musk Deposition? Why Twitter Shares Are Spiking Today

Twitter Inc TWTR shares are trading higher Monday afternoon following reports indicating Tesla Inc TSLA CEO Elon Musk's deposition in the twitter case has been postponed.

Musk and Twitter CEO Parag Agrawal were expected to be deposed on Monday, but several reports have indicated that such has been delayed. 

Musk has claimed that the number of bots or spam accounts on Twitter is much higher than the company states and has even threatened to drop his $44 billion takeover agreement. A trial on the matter is currently slated to begin in mid-October.

See Also: Elon Musk Shares Photo Of Himself And Grimes: 'No Way To Prove We're Living In A Simulation'

TWTR Price Action: Twitter has a 52-week high of $54.57 and a 52-week low of $31.30.

The stock was up 2.24% at $42.53 Monday afternoon, according to Benzinga Pro.

Photo: Steve Jurvetson from Flickr.

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