Twitter Drops 5%: Buy This Selloff, Says JPMorgan
Twitter (TWTR) shares have been under pressure following a Washington Post story that said the company was culling invalid accounts, which presumably could put pressure on its June-quarter reported user count.
But Twitter’s executives stepped up in the defense of the company this afternoon.
Twitter shares were down as much as 10%, but have regained some ground, down now just $2.57, or 5.5%, to $44.08.
However, the company’s Chief Financial Officer Ned Segal this afternoon set the record straight, stating that “most accounts” that Twitter removes from the service don’t actually get included in its reported “Monthly Active Users” number.
Some clarifications: most accounts we remove are not included in our reported metrics as they have not been active on the platform for 30 days or more, or we catch them at sign up and they are never counted.
Twitter says removal of fake accounts does not hurt user metrics
(Reuters) – Twitter Inc (TWTR.N) said on Monday it has removed fake accounts but that does not impact its reported user metrics as was indicated in a report by The Washington Post.
The newspaper had said the social media company had suspended more than 70 million fake accounts in May and June, leading to a decline of monthly active users in the second quarter.
“Most accounts we remove are not included in our reported metrics as they have not been active on the platform for 30 days or more, or we catch them at sign up and they are never counted,” CFO Ned Segal tweeted on Monday.
Today's Trade of the Day | 7-10-18
Perfect storm today for a new swing trade short sale in WYNN. With the stock market rising into resistance on light volume and WYNN-Wynn Resorts trading into a trend line and a gap fill -- a perfect scenario arises.
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Looking for a short sale below yesterday's low with a profit target of $152. Stop loss on a close above today's high after entry.
Stocks to Trade | Tuesday Edition 7-10-18
Bullish Momentum: HUYA, HEAR, CRC, PVTL, APA
Double Normal Volume: TWTR
Inside Days: csco, teva, kr, dks, fl, evhc, anf
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