Twitter shares plunge after Elon Musk cancels $44 billion deal

In this photo illustration, Elon Musk’s Twitter account is visible on a smartphone screen, with the Twitter logo in the background.

Pavel Gonchar | Light rocket | Getty Images

Twitter shares fell sharply early in premarket on Monday after Elon Musk said he was trying to end his $44 billion takeover of the company.

The company’s shares fell nearly 9% in US premarket trading before making up for some losses by trading about 7% lower. Tesla meanwhile, shares rose about 1% in premarket trading.

This is an evolving story and will be updated soon.