A little more than a year ago, on October 5, 2015, co-founder Jack Dorsey was named CEO of Twitter for the second time after Dick Costolo had stepped down from his position at the helm of the company earlier that year. At the time, Twitter was struggling with lackluster user growth, disappointing ad revenues and disgruntled investors. One year later, despite all efforts to turn things around, it still is.
As our chart illustrates, Dorsey’s second stint as CEO of the company he co-founded can best be described as turbulent. Disappointing results, the departure of several senior executives and a meager outlook did their part to unsettle the company’s shareholders, who appear to be losing faith in Dorsey’s ability to turn things around. Twitter’s shares are currently trading more than 40 percent below their price when Costolo stepped down last year, and the only thing that seems to get investors excited in Twitter is the flow of takeover rumors that sent the stock soaring two times in the past few weeks.
Despite Google and Disney, both previously rumored to be potential buyers, reportedly dropping out of the race, experts still consider an acquisition a likely option for Twitter’s future. Dorsey, who is said to be firmly against an acquisition, is apparently running out of time in his quest to bring his company back to its glory days.
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