Calls For Firing of Failed Twitter CEO Jack Dorsey
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Twitter CEO Refuses To Leave Failing Twitter Because All Possible Replacements Will Discover Twitter Files Reveal Election Rigging
Why Even Donald Trump Can’t Save Twitter
“It’s an increased value asset that’s getting more valuable every day,” Ross Gerber says. “And management is unable to capitalize on it”
By most forms of logic, Twitter should be one of most successful social media companies on the planet.
President Donald Trump largely communicates with the American people through Twitter. He has 43 million followers between the @realDonaldTrump and @POTUS accounts, and other national politicians, media members and stock traders pretty much have to follow him as part of their job. His tweets have even moved markets (although Wall Street seems to be wisening up), and last week, Trump said Twitter was integral in getting him elected.
So why can’t Twitter turn itself into a functional company with a healthy stock price? The company’s stock closed Tuesday at $14.54 a share, well off its 52-week high of $25.25 — and significantly south of its 2013 IPO price of $26 a share.
Blame CEO Jack Dorsey and his team, said Ross Gerber, the president and CEO of Gerber Kawasaki Wealth and Investment Management and a frequent CNBC commentator. “It’s an increased value asset that’s getting more valuable every day,” Gerber told TheWrap. “And management is unable to capitalize on it.”
The company’s market cap sits at about $10.5 billion — less than half of Snapchat parent Snap Inc. In its most recent quarter, Twitter reported a year-over-year 5 percent dip in U.S. advertising revenue and only increased its monthly active user base by 4 percent. That’s despite becoming more important than ever to people involved in the information economy, Gerber said.
Twitter did not immediately respond to TheWrap’s request for comment on its fortunes in the President Trump era.
“There’s no doubt in my mind that Trump and the way Twitter is being used now has increased its value,” Gerber said. “Everybody in the media is on Twitter. It’s the place where news breaks the fastest. When something’s going on in the market, I don’t Google it — I go on Twitter. The Bloomberg terminal is old news.”
There is no possible doubt that Twitter is an election rigging tool and Fake News processor for Barack Obama and Hillary Clinton!