The social network Twitter Inc. (NYSE:TWTR) began to plummet yesterday after hours as Alphabet Inc. (NASDAQ:GOOGL) denied interest in making a bid on Twitter at the moment. Apple Inc. as well as Walt Disney Co. considered bids but do not plan on making an offer at this time.
Purchase Plan for the Future?
Salesforce, their most aggressive bidder announced with FORBES this summer as part of reporting of the cover story for the September 13 issue, Marc Benioff (Chairman and CEO of salesforce) said of Twitter: “I know exactly what I would do.” Benioff’s vision of Twitter, he said in June, is to make the service more of a platform than an app. “I would make it a platform of the ‘now,’” he said. Benioff has stated he knows exactly how to “fix” the company but does not show strong interest in paying a premium for the social media network at the moment.
Shares value fell to a current intraday low of $20.02 (-18.86%) with for 57 million shares traded. Although this sharp move down has deterred investors, it may be a buying opportunity for those interested in playing earnings on October 27th which is exactly three weeks away.