Twitter Stock Is Through The Roof Because Jack Dorsey Said He's Stepping Down As CEO
Source - Jack Dorsey, the CEO and one of the founders of Twitter, is expected to step down from his role ... causing the company's stock to make a massive jump.
A report from CNBC says Dorsey -- who is both the CEO of Twitter and Square -- is expected to step down from his executive role with Twitter as early as Monday. After the news, the stock jumped 11%.
It was just last year when Elliott Management -- the Twitter stakeholder -- had wanted Dorsey to step down, under the belief it was hard for him to effectively run both Twitter and Square at the same time. Both had come to an agreement back then to keep Jack on, but clearly, they've now decided differently.
As the leading financial authority at Barstool I feel it's important for me to give my opinion all things business. Whether it be a major shift markets, unusual trading patterns or in this case, a CEO stepping down, I need to weigh in. People respect my opinion. They want to hear what I have to say so here's my take...Jack Dorsey should've quit sooner. Why? Because when you're worth $11.8 BILLION you shouldn't do anything. Your life should become nothing more than a permanent vacation. In fact, anyone with the ability to not work shouldn't work. It's not fair to the rest of us who have to work to survive. "But Pat, if you don't work you'll get bored." Exactly. There's nothing better than being bored. And if you really hate being bored take some of that money and get a hobby. Not a regular person hobby like gardening or hiking, a rich people hobby like racing cars or doing cocaine.
Anyway, an 11% dip in the stock price has got to be a hit to the ego. So does trending on your own website for the sole fact that you're leaving said website...
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Regardless, Jack may be leaving twitter but he'll still be around. He's got Square to keep him busy and god knows what else. He's also apparently friends with Jay Z so there's that. Anyway, that's your annual financial/tech update straight from the desk of Barstool Pat. Thanks for reading. Now here's another tech titan doing what he does best- dancing. Enjoy…
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