Media
Twitter Short Interest Jumps Over 4 Million Shares
Published:
Last Updated:
Sellers who have shorted Twitter Inc. (NYSE: TWTR) shares likely got slammed recently on rumors about a buyout from Walt Disney Co. (NYSE: DIS), Salesforce.com Inc. (NYSE: CRM) and Microsoft Corp. (NASDAQ: MSFT). Shares have risen over 20% recently to $23.27. The short interest in Twitter rose 4.3 million in the period that ended September 15 to 55.5 million. That is nearly 10% of the float.
Investors have had plenty of reason to bet against Twitter as the turnaround of CEO Jack Dorsey has failed. User growth has plateaued at just above 300 million. Earnings have been troubling, as has guidance. For the periods ahead, the outlook is poor, barely better than last year’s results:
For Q3, we expect:
- Revenue to be in the range of $590 to $610 million;
- Adjusted EBITDA to be in the range of $135 to $150 million;
- Stock-based compensation expense to be in the range of $165 to $175
million;- GAAP share count to be in the range of 705 to 710 million shares;
- Non-GAAP share count to be in the range of 715 to 725 million shares.
For FY 2016, we expect:
- Capital expenditures to be $300 to $375 million;
- Adjusted EBITDA margin to be 26-27%.
And Twitter’s shares have acted appropriately. Before the takeover rumors, they were down 31% year to date. If no buyer materializes, the drop will continue.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
