It was somewhat expected news in the industry that Jack Dorsey was to announce his stepping down from his Twitter Chief Executive position after 16 years. The stock market reacted as expected in a volatile nature seeing a +12% spike followed by a 14% downturn to leave the stock down 2.74% at the end of the day.
not sure anyone has heard but,
— jack⚡️ (@jack) November 29, 2021
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
With the stock valued at $45.78 at the close of the market the pre-market data shows it is going to open down again at currently -0.44%. CEO’s and successor announcements often crash stocks due to uncertainty and company vision but one thing will always turn this around and that’s big promises, new products and future innovations announced by the new CEO.
Image courtesy of Finance.Yahoo.com
What Parag Argrawal and the Twitter executives have in store for us is still unknown with a news meeting expected to take place this week. For now the Twitter stock is down just 1.57% in the last 12 months which actually shows great strength for what some consider to be a hardly used or wanted social platform vs it’s competitors of IG and Facebook.
Our tip is to short and get out with small returns and to wait for any positive news before buying back in.
