It was exactly one year ago – on 7th November, 2013 – that Twitter Inc (NYSE:TWTR), an online mini blogging platform held its first IPO. Since the response was definitely much more effusive than what had been expected, the event was termed as being truly successful as also profitable for the company. However, when it was time to measure the metrics a year later, it turned out that the company’s forecast was not as rosy as had been expected. Amongst the several reasons cited, one which was regarded as being the most instrumental was its CEO, Dick Costolo.
On CNBC, the discussion between panelists began with the news that Twitter Inc (NYSE:TWTR) is going through testing times as a company and that given its disposition it is not likely to remain as good an investment as it had once appeared to be. Hence, $38-40 levels were being advised as experts as a good selling point. Contradicting this argument was one expert who felt that the company was based on solid fundamentals and even though things may not be going its way, there was just a question of getting one aspect right for it to be back in reckoning.
As far as Dick Costolo is concerned, not only is the opposition growing in number but assuming a more vocal nature too. Much of the dissatisfaction seems to arise from the changes in the top echelons of Twitter Inc (NYSE:TWTR)’s management. While some people are of the opinion that these drastic changes are just meant to buy time, there are others who are far from convinced, as is evident from the following comment by Scott Kessler, S&P Capital IQ –
“I think that’s probably somewhat overplayed. I think it’s a very cynical view to suggest that making management changes is solely to buy time for presumably the investing public, since there hasn’t been many public widespread announcements about these changes.”
That said, Twitter Inc (NYSE:TWTR) is trying its best to get the one thing right and in the process, it has tied up with a women’s group on anti-harassment issue and is also mulling over a few new features.
This article has been written by Vinita Basu.