The earnings shocker today comes from none other than Twitter:
Here is the entire history of the company (I am typing this before the opening bell, so today’s catastrophic bar isn’t included):
A few interesting tidbits:
- Since its IPO six long years ago, the company has lost about 40% of its value;
- Since its lifetime high (not that long after its IPO), it is down about 60%;
- Today’s price will be the same as it was half a decade ago
Personally, I use Twitter constantly, but I’ve never understood their business model. Indeed, I can’t recall ever seeing a single ad on their platform. Not even once.
The company is blaming its woes on a software bug in its advertising platform. Sort of like Boeing blamed their troubles on bad software. Oh, sure, blame the software guys! Anyway, there are some very shocked, very happy deep OTM put owners out there today.
