Twitter’s stock has lost almost 30 percent over the past year.
Advertisement
Options to save money include more layoffs, selling ad tech company MoPub, Fabric, or even Vine, the seven-second video sharing application.
After rising more than 8.5 percent over the last five sessions, the stock fell more than 4.6 percent to $18.93 in Thursday’s pre-market session. These would be stunning moves, since MoPub and Fabric are key initiatives for Twitter. Fabric is Twitter’s mobile development platform.
According to a CNBC report, Twitter’s board is meeting on Thursday, however, Dorsey’s management won’t be questioned at the meeting. He’s been leading the company full time for just under a year. Previous media reports have suggested that the board would discuss whether a sale of the company might make sense, as well as the role of CEO Jack Dorsey, who is now splitting his time as the CEO of Square.
Co-founder Jack Dorsey returned to the company as chief executive more than a year ago, but his plan for reviving Twitter is at best seen as unfinished.
Up to Wednesday’s close, Twitter’s shares had fallen about 14 per cent this year. As noted by CNBC, the “only thing that helps the stock is when rumors of a possible takeover bubble up”.
However, many among Wall Street aren’t convinced that an offer to acquire Twitter is now on the table and won’t be in the future.
Advertisement
Twitter was not immediately available to comment.
