This Could Be Huge for Twitter Stock
Move over Tesla Motors Inc (NASDAQ:TSLA) “AutoPilot,” General Motors Company (NYSE:GM) “Chevy Bolt” and Uber Technologies Inc. driverless cars, investors are excited about the Twitter Inc (NYSE:TWTR) stock that is firing on all cylinders. A recent announcement by Twitter CEO Jack Dorsey sends a clear message that the company is serious about growing its user base.
Twitter stock traded higher Wednesday after Jack Dorsey outlined the plans to take the social media platform one step closer to being a video streaming service. Twitter Inc is launching its live streaming video app on “Apple Inc.’s (NASDAQ:AAPL) “Apple TV,” Amazon.com Inc.’s (NASDAQ:AMZN) “Fire TV” and Microsoft Corporation’s (NASDAQ:MSFT) “Xbox One;” which means that the users can now view live broadcasts on bigger screen. Users can not only watch the videos online, but can also interact with others on the same screen.
Viewers can now enjoy 10 National Football League (NFL) games starting September 15, and can expect more in the near future including broadcasts from Major League Baseball (MLB), National Basketball Association (NBA) and Pac-12 Network games. Twitter will also make available the curated content from “Periscope” and “Vine.” (Source: Twitter launches apps to stream video on TV, CNBC, September 14, 2016.) Moreover, these consumers of content need not have a Twitter account.
Twitter’s focus on live video streaming puts it in direct competition with other tech and media companies like Amazon and Facebook Inc (NASDAQ:FB) that are giving a big push to their content strategies. However, if Twitter can provide its users with new and different experiences, it might just turn around the fortunes of TWTR stock.
Twitter has been in news this year amidst many takeover rumors and how it would be a good buy for News Corp (NASDAQ:NWS), Google (Alphabet Inc) (NASDAQ:GOOG) or Facebook. However, its live streaming strategy is likely to help the company maintain its growth and dispel all rumors.
As Twitter stock rolls on the stock market, all eyes would be on tonight’s first NFL game. Besides, there are Bloomberg shows coming this week. There is a lot to look forward to with the company’s new, longer tweets starting September 19 . Twitter stock shall continue to be in limelight; it’s time to prove how high the bird can fly.