Market Overview

Is Jack's Time Almost Up At Twitter?

Share:
Is Jack's Time Almost Up At Twitter?

Jack Dorsey still has some time to right Twitter Inc's (NYSE: TWTR) ship, at least according to a CNBC report.

Sources close to the situation told CNBC that Dorsey's job isn't on the line in the immediate term, but he has just "a few more quarters" to execute a turnaround plan.

Twitter's revenue is "tight" and management is exploring options to cut back on expenses. The company's Board of Directors will meet on Thursday and the conversation will include exploring a sale of some of its units or even the company as a whole.

Twitter's stock has lost nearly 30 percent over the past year. As noted by CNBC, the "only thing that helps the stock is when rumors of a possible takeover bubble up."

Related Link: Here Is Every Twitter Takeover Rumor Of 2016

However, many among Wall Street aren't convinced that an offer to acquire Twitter is currently on the table and won't be in the future. For example, SunTrust's Bob Peck noted that Twitter's stock is already trading at a "large price" with a roughly $15 billion market cap and any acquisition will boost the price tag to at least $18 billion.

CNBC said that "there are no bids on the table, and talk of any of these companies buying Twitter is mostly just that, talk."

After rising more than 8.5 percent over the last five sessions, the stock fell more than 4.6 percent to $18.93 in Thursday's pre-market session.

Posted-In: CNBC Jack Dorsey Twitter RumorsM&A News Rumors Management Media Best of Benzinga

 

Related Articles (TWTR)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

7 Of The Best Reactions From Wired's Live Blog Of Sony's PS4 Event

'iPhone 7 Surprises,' Says Citi