As big tech regroups, Twitter hopes to use modest gains to catch up
Twitter has long struggled to avoid being the butt of every joke in tech. With stock at a 3-year high, it’s finally getting somewhere.
The 12-year-old company posted its first profitable quarter just months ago — and while the company is using this rare victory to fight for a seat at the table with tech’s biggest and baddest, it faces an uphill battle.
A slow, anticlimactic road to ‘success’
While Twitter is profitable and increased 155% in stock value in the last year, user growth has barely ticked upward at a 3% increase.
So Twitter’s stock increase has less to do with the company’s growth, and more to do with cost-cutting and the relative struggles of its rivals.
But that doesn’t mean Twitter isn’t going to make the best of it…
‘Quick! Tweet at ’em while they’re down’
With Facebook and Google struggle to regain user trust by overhauling their news platforms, Twitter is rolling out news improvements to win some market share.
For a company that has been pegged in the past solely as an acquisition target, this new stability is a welcome win, but they’re still a chihuahua merely yapping at the big dogs.
Twitter’s recent gains put the company’s market cap at a swollen $32.5B — while “struggling” Facebook sits at about $559B, Google at $788B, Amazon at $822B, and Apple at $979B.