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11/29/2021, 6:47 PM (Source: TeleTrader)
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Chart for: Twitter Inc

Twitter turns negative amid CEO change

Shares of Twitter Inc. erased gains from earlier in the day after its co-founder Jack Dorsey announced that he is resigning as the company's CEO.

The social media company's stock jumped as much as 10.52% at the open on Monday on reports that Dorsey is expected to leave Twitter. Trading in its shares had been halted for slightly more than an hour while markets awaited official confirmation of the news from the firm.

After the formal announcement was made, Twitter made slight gains for a brief period of time before dropping below the flatline. The stock was down 0.35% at 12:30 pm ET, selling for $46.79 after registering a daily low of $46.37.

Baha Breaking the News (BBN) / MS