Twitter @bartosiastics
Original Article: http://www.zacks.com/commentary/69214/twitter39s-disastrous-year-executive-shake-up-and-stock-slide
Five years ago, Twitter was a budding phenomenon with near zero revenue. Now it’s blossomed into an 11 billion dollar company with a part-time CEO. I say part-time because CEO Jack Dorsey, the one of the original founders, is also the CEO of publicly traded Square. Maybe the job’s so nice he’s doing it twice. And here I am, proud of myself for being able to eat a Wendy’s Spicy Chicken sandwich while driving a stick shift. I got nothing on Jack.
After takeover rumors linking Twitter with Rupert Murdoch’s News Corp, we found out four key executives were leaving the little blue bird. Rumors were flying saying Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil were all fired and that two new members would be joining the board. Well Jack took to Twitter to clear up the rumors saying that all four have chosen to leave on their own accord and will be taking some well-deserved time off.
COO Adam Bain will be taking on additional responsibilities, including the revenue-related product teams, the Media team, and the HR team while CTO Adam Messinger will be taking over all engineering and consumer product design and research, user services and Fabric, merging them into one group. I’m left scratching my head on this one. Is it really easy to work at Twitter? I can be a part-time Exec. I’m usually out of here by 5. Hey Jack, What about Dave?
I mean, Jack has enough time to run another publicly traded company while at the helm, and apparently these two dudes can pick up the slack of four execs that left. So were they only at 1/3 capacity this whole time? And going back to their original jobs, were they crushing it? We’re they doing so well that Jack was like, “Bro, you should do three times as much cuz you’re so good.”
The market doesn’t think so. Last year Twitter shares were down 35%. This year they’re already off 25%. Twitter reports February 10th after the close and our Zacks Consensus Estimate calls for a 13 cent loss this quarter.
Twitter: http://www.zacks.com/stock/quote/TWTR?cid=CS-YOUTUBE-FT-VID
Wendy's: http://www.zacks.com/stock/quote/WEN?cid=CS-YOUTUBE-FT-VID
Square Inc: http://www.zacks.com/stock/quote/SQ?cid=CS-YOUTUBE-FT-VID
News Corp: http://www.zacks.com/stock/quote/NWSA?cid=CS-YOUTUBE-FT-VID
Follow us on StockTwits: http://stocktwits.com/ZacksResearch
Follow us on Twitter: https://twitter.com/ZacksResearch
Like us on Facebook: https://www.facebook.com/ZacksInvestmentResearch
