At time of writing, Twitter (NYSE:TWTR) traded with change of -2.76% on volume of 6,434,486 shares in today current (Ongoing) session as compared to average volume of 15.07M shares.
Today News Update
Twitter Inc. Chief Executive Officer Jack Dorsey returned from a trip touring African startups ready to go back.
He said in a Twitter post last week that he’ll spend three to six months somewhere on the continent next year. Dorsey had spent much of November meeting with startups and people in the tech industry in South Africa, Ethiopia, Nigeria and Ghana.
But investors have appeared less convinced of the executive’s intentions over the following days. Twitter’s shares have declined since Dorsey announced his plans — down about 2.4% since Nov. 27 — and his other company, payments firm Square, has fallen almost 4% compared to a 1.3% drop in the S&P 500 Index.
The continent is one of the fastest growing regions for tech adoption thanks to a young population and an emerging middle class. People there have become early users of new technology, such as payments apps. Funding of African startups more than doubled last year to $1.16 billion, mainly driven by fintech investments, according to a report from venture capital firm Partech Partners.
Dorsey’s Square fits in well with Africa’s embrace of mobile payments, though the company doesn’t currently have an office there.
On Monday, Twitter (NYSE:TWTR) traded with change of -1.59% on volume of 14550075 shares in the last session as compared to average volume of 20565111 shares. During last trade its minimum price was $29.97 and it gained highest price of $30.95. TWTR has total market capitalization of $23616779999. Its closing value stands at $30.42.
Here are 2 most recent news released Yesterday
Twitter (NYSE:TWTR) Proposed $600 Million Senior Unsecured Notes Offering
On Dec. 2, 2019, Twitter (NYSE:TWTR) released its intention to offer, subject to market conditions and other factors, $600 million aggregate principal amount of senior unsecured notes due in 2027 (the notes) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Act).
The notes will be unsecured, senior obligations of Twitter, and interest will be payable semi-annually in arrears. The interest rate and other terms of the notes are to be determined through negotiations between Twitter and the initial purchasers.
Twitter intends to use the net proceeds from this offering for general corporate purposes, which may include capital expenditures, investments, repayment of debt, working capital and potential acquisitions and strategic transactions. From time to time Twitter evaluates potential strategic transactions and acquisitions of businesses, technologies or products. Currently, however, Twitter does not have any agreements with respect to any such material strategic transactions or acquisitions.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful. The notes have not been and will not be registered under the Act or the securities laws of any jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
On December 02, 2019 — Moody’s Investors Service (“Moody’s”) assigned Twitter, Inc. (Twitter) a Ba2 Corporate Family Rating (CFR), a Ba2-PD Probability of Default Rating, and a Ba2 rating to the proposed senior unsecured notes offering. Net proceeds will be used for general corporate purposes. The outlook is stable.
“Twitter’s Ba2 rating reflects its growing niche position within social networking, benefiting advertisers through its reach and targeting capabilities, which has led to strong revenue growth and free cash flow generation,” commented Neil Begley, Moody’s Senior Vice President. “However, Twitter is small relative to its larger digital advertising and social networking competitors, and user engagement on social networks can be fickle.”
James Blair has more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. James is the Senior Editor of Financial category. He also holds an MBA from Penn State University He has two daughter and two children.
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