Please select the second broker

Author: Alan LittleDate: 2021-11-30

Twitter (TWTR) shares dip 1% after Jack Dorsey steps down as CEO

Twitter (TWTR) traded 1% lower in New York on Monday after Jack Dorsey resigned from his position as CEO and Parag Agrawal made the step up to the top role.

Twitter (TWTR) shares surged briefly on Monday after co-founder Jack Dorsey announced the end of his six-year reign as CEO, while Parag Agrawal was confirmed as his replacement with immediate effect.

Dorsey said that Twitter was “ready to move on” from his leadership amid internal tensions about his role at the company and the desire among investors for a new chief executive with a single focus.

The 45-year-old also serves as the CEO of financial services and digital payments platform Square (SQ).

Agrawal makes the step up to the top job after more than 10 years with Twitter – he has spent the last four years serving as its chief technology officer.

Dorsey gave a ringing endorsement for Agrawal in a post on Twitter on Tuesday, noting that his trust in the new leader was “deep” and that his recent work had been “transformational”.

On stepping down, Dorsey added: “I want you to know that this was my decision and I own it.”

The latest moves could be part of Twitter’s attempts to hit ambitious internal targets of attracting 315 million monetizable daily active users within two years while driving strong revenue growth.

Agrawal will have solid foundations to build from as Twitter delivered Q3 earnings and revenue beats in October and expects to bring in as much as $1.6bn in Q4.

Twitter shares climbed 10% in premarket on rumours of Dorsey’s departure, but trading was temporarily halted during the morning after it was made official.

When shares started changing hands again, TWTR was flat before dipping into negative territory in the afternoon.

On Monday when the market closed, Twitter was down 2.74% and was selling for $45.78.

Scam Brokers, Broker Complaints

Are you aware of a scam broker or want to make a broker complaint?

We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.

We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.

We use the information you give us to decide if we want to continue to promote a broker on our site.

Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.