Twitter Short Interest Drops to 53.6 Million
The modest downtick in shares sold short in Twitter came despite deepening trouble in both management and performance at the company.
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Shares sold short in Twitter Inc. (NYSE: TWTR) dropped 6.8% to 53.6 million in the two-week period that ended January 15. The modest tick down came despite deepening trouble in both management and performance at the company.
Over the past three months, Twitter shares are off 46% to $16.78, and down 25% in just the past month. Several executives have left Twitter in the past several days, and statements from CEO Jack Dorsey have not calmed investors.
Dorsey recently commented:
“I’m sad to announce that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil have chosen to leave the company. Alex and Kevin, both here over five years, scaled the ads product and engineering teams,” he said. “[They] have run all of product and engineering together for the last 18 months, helping to drive an increased pace of execution.
“Katie, also here over five years, has grown a global team that brings the world’s best, most engaging, and most powerful content onto our services.”
[nativounit]
Investors are more than sad, and even more than anxious.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
