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Twitter Inc.: Falls on short-seller Citron Research report

An illustration picture shows the Twitter logo is displayed in the eye of a woman in Berlin, November 7, 2013. REUTERS/Fabrizio Bensch/Image/File photo

– The shares of the social media company Twitter down 11.3 percent to $29.22; set for the largest one-day percent decline in almost five months

– Short-seller Citron Research says TWTR “has become the Harvey Weinstein of Social Media”; put PT from $20/shr

– Amnesty International research makes Twitter “Toxic” to investors and advertisers – Citron

– Amnesty’s research with Element AI, published on Tuesday, says 7.1 pct, or 1.1 million tweets sent to 778 journalists and politicians from the United Kingdom and the United States by means of 2017 were “problematic” or “gross”

– “….I would note that the concept of ‘problematic’ content for the purposes of the classification of content is one that warrants further discussion,” TWTR Legal, Policy and Trust & Safety Global Lead, Vijaya Gadde, was at the height of Amnesty on Dec. 12

– “It is unclear how you have defined or categorized content, or if you suggests, it should be removed from Twitter” TWTR the Gadde added

– Citron says it had after TWTR for years, but knew it had to be “uninvestable” at the reading of the report of Amnesty

– “…Twitter was FB and Google on the growth. But, any form of tweaking the business model of the ‘monitor ‘ speech’ sends the traffic, engagement, and total users back to the Twitter – a kiss of death for a company playing catch up,” adds Citron

– TWTR, the stock has fallen ~7.4 percent this month, more than rival Facebook Inc ~5.4 percent decline, but is still up about 21.7 pct this year, compared with a 24.6 percent slide, FB during the period

Reporting by Aaron Saldanha in Bengaluru

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