Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Jack Dorsey the co-founder and CEO of Square Inc (NYSE: SQ) and Twitter Inc (NYSE: TWTR), has helped change the world with his innovation. However, as a top executive, he has fallen far short of the high expectations of Wall Street.
The highly-anticipated 2015 Square IPO was generally regarded as a flop. After expectations that the IPO would be priced at between $11 and $13 per share, the company was ultimately forced to sell IPO shares for just $9. The stock popped 24 percent when it opened on the public market to $11.20, but is now back down below $10 once again.
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Dorsey’s other project, Twitter, wasn’t fairing very well in the market either, but investors were hoping that naming Dorsey CEO in October of last year would stop the bleeding. However, since Dorsey was named CEO, Twitter’s stock is down more than 35 percent in less than five months.
Certainly the market has been weak overall so far in 2016, with the S&P 500 down 6.0 percent. However, under Dorsey’s leadership, Twitter and Square are down 22.5 and 25.8 percent, respectively, this year.
Dorsey still has time to lead turnaround stories at both of these popular tech companies, but there’s no question that both Twitter and Square have struggled to find their footing in the market with Dorsey at the helm.
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Disclosure: the author holds no position in the stocks mentioned.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.