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.”
Investors are more than sad, and even more than anxious.
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