Twitter shares plunged after The Washington Post reported that Elon Musk's $44 billion deal to buy the social media giant was in jeopardy.

The richest man in the world has previously expressed concerns and even hinted that he may back out of the deal due to concerns about what he sees as an abundance of fake accounts. However, according to the Post, Musk was unable to determine the percentage of fake Twitter accounts despite being given access to internal data.

While Musk has already made comments questioning his commitment to the deal, the post cites an anonymous source as saying his team is preparing for a change of direction.

Shares of Twitter, which were already trading below the price offered by Musk, fell about four percent on the news.

The Twitter soap opera is clearly coming to an end as Musk makes the decision to stay at a lower price) or leave, Wedbush analyst Daniel Ives said in a note to investors.

Musk will reveal details of his problems with fake accounts in the coming weeks, he said.

During the Qatar Economic Forum last month, Musk said his Twitter purchase was still delayed by very important questions about the number of fake users on the social network.

Twitter executives have firmly stated that less than five percent of accounts are fake, with Musk saying he believes the number is much higher.

Musk said there were also questions about Twitter's debt.

According to Ives, the chances of Musk buying Twitter, as originally agreed, are slim.

Wedbush thinks there is a 60 percent chance that the deal will go through at a lower price, leaving the door open for the possibility that Musk will try to walk away by paying only the required $1 billion fee.