Elon Musk is using a ‘dog ate the homework’ excuse to potentially back out of buying Twitter and there is now a less than 50% chance the deal gets done, Wedbush says

• Elon Musk’s excuse about Twitter bots is a way to back out of the deal, Wedbush said.

• Musk agreed to buy Twitter for $44 billion but could be feeling pressure amid falling Tesla stock.

• “We view the $44 billion Twitter deal as having less than a 50% [chance] to get done,” Wedbush said.

There is now a less than 50% chance that Elon Musk will acquire Twitter for $44 billion, a Monday note from Dan Ives, a Wedbush analyst, said.

Musk, who plans to put up a…