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Twitter Stock Drops 20%
There is very little on this so far. Even Zero Hedge hasn’t anything on this yet.
Twitter follows Facebook with stock plunge after reporting fewer users
Twitter said monthly active users fell by 1 million in the second quarter, sending its shares down 16 percent
Only
this extremely biased reporting...
27
July, 2018
Cracking
down on hate, abuse and online trolls is also hurting Twitter’s
standing with investors.
The
company’s stock plunged Friday morning after it reported a decline
in its monthly users and warned that the number could fall further in
the coming months. The more than 17 percent drop in share value at
the opening bell comes one day after Facebook lost 19 percent of its
value – its worst trading day since Facebook went public in 2012.
Twitter
says it’s putting the long-term stability of its platform above
user growth. That leaves investors seemingly unable to value what the
biggest companies in the sector, which rely on their potential user
reach, are worth.
Twitter
had 335 million monthly users in the quarter, below the 339 million
Wall Street was expecting, and down slightly from 336 million in the
first quarter. That overshadowed a strong monthly user growth of 3
percent compared with the previous year.
The
company said its monthly user number could continue to fall in the
“mid-single-digit millions” in the third quarter.
Long
criticized for allowing hate, abuse and trolls to run rampant on its
platform, Twitter has begun to crack down, banning accounts that
violate its terms and making others less visible.
Twitter
is now attempting to rein in the worst offenders after years as one
of the Wild West corners of the internet.
At
the same time, it must convince people it’s the go-to platform in
social media, even though it is dwarfed right now by Facebook.
Facebook
has more than 2.23 billion users while its apps WhatsApp, Instagram
and Messenger each have over 1 billion.
Twitter
on Friday reiterated its efforts to “to invest in improving the
health of the public conversation” on its platform, making the
“long-term health” of its service a priority over short-term
metrics such as user numbers.
As
part of these efforts, Twitter said that as of May, its systems
identified and challenged more than 9 million accounts per week that
are potentially spam or automated, up from 6.4 million in December
2017. The company has previously disclosed these numbers.
A
Washington Post report put the total number of suspended accounts in
May and June at 70 million. The Associated Press also found that
Twitter suspended 56 million such accounts in the last quarter of
2017. While Twitter maintains that most of these accounts were
dormant and thus not counted in the monthly user figure, the company
also warned that its cleanup efforts could affect its counted user
base without giving specific numbers.
“We
want people to feel safe freely expressing themselves and have
launched new tools to address problem behaviors that distort and
distract from the public conversation,” CEO Jack Dorsey said in a
prepared statement.
Twitter’s
second-quarter net income hit $100.1 million, after a loss last year
during the same period. It’s the company’s third profit in a row,
the third it has ever posted.
Per-share,
the San Francisco company’s net income was 13 cents, or 17 cents
adjusted, in line with expectations, according to a poll by Zacks
Investment Research.
Revenue
of $710.5 million, up 24 percent and edging out expectations of $696
million.
And
the openly-biased Hal Turner
Facebook
stock value plunged this week. By some accounts, it was the largest
single-day plunge of any company in history: $100-$120 BILLION in
market value wiped out in one day. The plunge is not over. It is
also no accident.
FaceBook
is being deliberately brought down by Conservatives (like me) as
retaliation for their overt censorship of right-wing views. Unless
that censorship stops, I can confidently forecast, Facebook will be
no more. It will be another MySpace. Another Prodigy or
Comp-U-Serve. Another AOL. You know, all "has beens."
Twitter,
is next.
So
those of you who have stock in Twitter, prepare yourselves for a loss
-- or get out now while you still can.....
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