Musk is now saying that the Twitter sale is on hold.
From Musk's Twitter post:
I don't know why that matters, if it is less than 5%, that is a good thing. But I can guarantee it isn't 5%, it is much higher with all the Russian bots, and other shit.
https://twitter.com/elonmusk/status/1525049369552048129
I think Musk is now trying to find a way out of the deal, simply because Twitter's shares are down 20% since the sale happened. Musk's deal was for $54.20 per share when he made the announcement, the current stock price is $45.08 as of this post. He will either try to get out of the deal entirely, or try to renegotiate for a lower price.