Twitter Short Interest at 62 Million Shares

By Douglas A. McIntyre Updated Jan 13, 5:47AM EST · Published Jul 13, 8:55AM EDT

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Twitter Short Interest at 62 Million Shares — © courtesy of Twitter Inc.

The short interest in Twitter Inc. (NYSE: TWTR) for the period that ended June 30 was 61.9 million shares, about flat with the previous quarter. However, that was 10.9% of the float, a signal that investors are still anxious about Twitter’s prospects.

Those prospects have not improved under the new CEO Jack Dorsey. He has cut deals to stream Bloomberg TV and the political conventions. None of this programming is highly watched on television

Dorsey has been unable to solve Twitter’s most important problems. Its user base growth has plateaued. Advertisers have shunned the social medium. The failures show in Twitter’s share price. It is at $18, on a trading range for the past 52 months of $13.79 to $37.09.

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Two things stood out in its most recent quarterly report. Active monthly users were up only 3% from the same period the year before. And:

For Q2, we expect:

Revenue to be in the range of $590 to $610 million;

Adjusted EBITDA to be in the range of $145 to $155 million;

Stock-based compensation expense to be in the range of $165 to $175 million;

GAAP share count to be in the range of 700 to 705 million shares;

Non-GAAP share count to be in the range of 710 to 720 million shares.

For FY 2016, we expect:

Capital expenditures to be $300 to $425 million;

Adjusted EBITDA margin gain in the in the range of 25% to 27%

That was enough to sicken shareholders.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.