Twitter’s stock takes a hit after report of fake account purge
SAN FRANCISCO — Twitter’s shares tanked on Monday following a Washington Post article that the company suspended more than 70 million accounts in May and June — a clean-up of the platform that may affect user growth.
The Post story, which published Friday, said that the suspensions could have some impact on the company’s tally of monthly active users, a key growth metric that is closely monitored by Wall Street investors.
The drop of more than 8 percent Monday — the largest single-day percentage dip since March — comes on the heels of a positive run for Twitter. Overall, its shares are up 146 percent over the past 12 months, and it posted its first profit ever in February. The number of monthly users, called MAU, also jumped to 336 million in April, from 330 million in the previous quarter.
https://www.washingtonpost.com/technology/2018/07/09/twitters-stock-takes-hit-after-report-fake-account-purge/?