Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Twitter Sees No Bump From Trump’s Extensive Use Of Its Platform

Thursday, February 9, 2017 11:33
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Speaking to reporters via conference call on Thursday, Twitter executives downplayed any potential uptick in users coming onto its platform as a result of President Trump’s penchant for using Twitter to communicate with the world.

While Twitter acknowledged that Trump has raised its profile, they are as yet unable to quantify any contribution to its user growth. From Bloomberg:

“The president’s use of Twitter has broadened the awareness for how the platform can be used, and it shows the power of Twitter,” Chief Operating Officer Anthony Noto said on the call with investors. But in terms of user growth, “we haven’t seen a benefit to the top of the funnel from the activity throughout the election time period.”

Trump has proven he can move markets with his tweets. Boeing, Lockheed Martin, and Ford have all seen their share prices move sharply when he’s mentioned them in the past.

Some analysts anticipated Trump would major boon for Twitter, with one firm getting bullish on the stock just before its earnings release:

Trump has basically become “a giant marketing vehicle” for Twitter, BTIG analyst Richard Greenfield said in a note Wednesday, ahead of the earnings. He upgraded the stock to “buy,” and said there has been a “meaningful uptick” in downloads of the Twitter app on iOS devices in the U.S. this year.

But that move has proven ill-timed, if not ill-conceived. Twitter’s earnings were a disaster, and it’s becoming clear the troubled social media giant needs more help than the highly controversial president can provide.

Twitter Inc (NYSE:TWTR) was trading at $16.81 per share on Thursday afternoon, down $1.91 (-10.20%). Year-to-date, TWTR has gained 3.13%, versus a 3.15% rise in the benchmark S&P 500 index during the same period.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)



Source: http://etfdailynews.com/2017/02/09/twitter-sees-no-bump-from-trumps-extensive-use-of-its-platform/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.