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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 09:04 EDT
Evercore ISI analyst Kevin Rippey upgraded Twitter to In Line from Underperform after Bloomberg reported that Paul Singer's Elliott Management is seeking to force the departure of Jack Dorsey and the New York Times indicated in a report of its own that the hedge fund's stake could be worth about $1B, or roughly 4% of Twitter's market value. While Rippey does not think that a replacement for Dorsey would better position the company to address the structural issues that challenge it, he does believe Singer sees replacing the company's founder as increasing the likelihood of a sale of Twitter. Elliott's involvement will likely focus investors' attention on Twitter's potential strategic value and lowers conviction in his short thesis, especially in light of last week's "dramatic market selloff," Rippey tells investors.
News For TWTR From the Last 2 Days
Jun 4, 2020 | 13:54 EDT
Two app store intelligence firms, Apptopia and Sensor Tower, estimate that Twitter had a record number of new installs this week amid nationwide protests, reported TechCrunch's Sarah Perez. According to Sensor Tower, Twitter U.S. installs this week were at a four-year high and Monday saw the most single-day installs since at least January 1, 2014, when the firm began recording app store data, the report said. Apptopia, on the other hand, estimates that Twitter topped its record for installs on Wednesday, the report noted. Reference Link
Jun 4, 2020 | 14:25 EDT
Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. PRESIDENT TRUMP TAKES... To see the rest of the story go to See Story Here