Following news that potential bidders have backed off, Twitter shares have dropped significantly as the social media company continues to struggle.
It was reported by Bloomberg on Friday that potential investors such as Google, Salesforce, and Disney were unlikely to make a bid on Twitter after a board meeting with outside advisers to discuss a sale was cancelled. Twitter stock fell by 13% on Friday, contributing to an overall drop by 25% this year.
Salesforce CEO Marc Benioff said last Thursday that his company would not be placing a bid on “a company that shall not be named,” which actually increased Salesforce stock price by 4%.
Twitter’s rapidly falling stock price is something that was predicted by Breitbart Senior Editor Milo Yiannopoulos following his ban from the social media platform. “If Twitter does change the rules to clamp down on the most fun people, interesting people, on its platform, people are going to leave,” said Milo appearing on CNBC.
Twitter does have a plan if they fail to receive any bids on the company, banking on a new strategy that emphasizes live video streaming, a feature that Facebook implemented earlier in the year. Twitter hopes to enter partnership deals with sports, politics, and entertainment outlets, streaming tweets alongside live video content.
An analyst at SunTrust Robinson Humphrey Inc, Robert Peck, said,“The lack of growth in users and engagement underscore that Jack’s initiatives thus far haven’t really been effective, if this whole ‘live’ idea doesn’t work, then what is it that gets Twitter to grow?”
Lucas Nolan is a conservative who regularly contributes articles on censorship and free speech to Breitbart. Follow him on Twitter@LucasNolan_ or email him at email@example.com