David Einhorn’s Greenlight Capital has plans underway to buy the shares of Twitter.
An official working with the company said, “We initiated a small position in Twitter at an average [price] of $21.59. Despite a massive user base and broad reach, Twitter has an enterprise value of about 2% of Facebook, the largest social media platform.”
It is beyond any reasonable cloud of doubt that the Department of Justice has filed a rather weak anti-trust. However, there is a great possibility that the merger might go through regardless of the fact that it is currently being challenged in court.
It was on Thursday when Facebook made the announcement regarding the major significant change in its newsfeed. Mark Zuckerberg , who is the company’s CEO outlined that the internet giant will soon be prioritizing “relevant content” versus “meaningful social interactions.”
Friday’s announcement brought it to the limelight the shares of Twitter went up by about 4.4 percent whereas the stock of Facebook went down by 4.5 percent. Brighthouse has made tremendous progress considering that at the moment it has about $220 billion in the form of assets. Brighthouse happens to be a more capital-intensive operation especially when brought into a much closer comparison to some of the businesses established by MetLife.
Greenlighthas also made a statement revealing that it has taken a small position in Twitter Inc. Taking the user experience a notch higher is crucial when it comes to attaining immense growth .The company has been trying its level best when it comes to boosting the number of visitors as well as the overall times each of them spends on the site.
Twitter is looking forward to boost its revenues despite the major challenges it has been coming across. In fact a few months ago it resorted changing its policies, a move that would help guard the way users conduct themselves on the platform.
There had been much uproar by users and world leaders pushing the company to make changes to its platform. It was after it was noted that President Trump had been posting tweets sending out divisive messages though it defended him citing that his comments were of public interest.