Twitter Inc: Will Jack Dorsey Tweet Save Twitter Stock?
TWTR Stock Needs Much More Than This
The Twitter Inc (NYSE:TWTR) stock price is hovering around $16.00 at present, and things do not look bright for TWTR stocky going into 2017.
After a lot of media speculation over Twitter’s potential acquisition, things seem to have settled down now, as it becomes clear that the company would have to do something drastic with its strategy in order to become valuable again. TWTR stock is way off of its 52-week high of $25.25.
On Thursday, Twitter CEO Jack Dorsey took to Twitter to ask users what the company can do to “improve or create in 2017.” This is similar to what Airbnb, Inc. CEO Brian Chesky tweeted on Christmas Day. This is what Jack Dorsey posted on Twitter:
Following in the footsteps of Brian Chesky: what’s the most important thing you want to see Twitter improve or create in 2017? #Twitter2017
— jack (@jack) December 29, 2016
These are some of the responses:
- prevent repeat offenders from creating new accounts
- create locked hashtags so that trolls or spam accounts don’t show up within search or can’t tweet at all once banned
- add ability to edit tweets and organize Twitter lists
- make Twitter more about one’s influence in a given topic than how many followers they have
Twitter stock has been at the receiving end of the inability of the company to manage abuse on the social media platform.
Jack Dorsey responded to one of the suggestions on editing tweets saying “We’re thinking a lot about it.” He also said that Twitter is thinking about other suggested ideas including a bookmarking tool, better threading for conversations, and multiple timelines based on interests. (Source: “Twitter’s Jack Dorsey is ‘thinking a lot about’ an edit-tweet button,” Recode, December 29, 2016.)
Twitter has never offered an edit button, partly because the company was concerned that tweets might be changed after a long time, and after they had already been embedded on other parts of the Web. But allowing an edit option for a short time after publishing a tweet seems like a good compromise.
Asking the users for ideas on how to fix Twitter looks like a good plan. There are many loyal fans of the platform who love it and would want to see it improved. Jack Dorsey himself had made clear his plans to clear the platform of trolls and making it more convenient for all to use.
But it is easier said than done. TWTR stock is down almost 30% this year and things do not look any better going into 2017. Investors will be watching if the company’s new strategy centered around video works in the new year and lifts the Twitter stock price.