Twitter Stock Crashes As Social Network ‘Cracks Down’ On Alt Right
Twitter stock spectacularly crashed last week, following CEO Jack Dorsey’s decision to ban alt right accounts from the platform.
Twitter’s user base also declined to 70 million, from 70 million in the first quarter of 2017, Dorsey confirmed in a letter to shareholders.
Rt.com reports: Its global user base was 328 million. Analysts had been expected it to add at least a few million users.
Twitter’s stock tumbled as much as 10 percent in pre-market trading on Thursday following the earnings report, according to CNN Money. The company remains unprofitable and is yet to post a net profit.
By comparison, Facebook was reporting adding 70 million new users, with overall users now standing at more than 2 billion.