Twitter Implosion Continues As CTO And VP Of Product Abandon Company
More high ranking officials are leaving Twitter to pursue other opportunities. The latest to jump ship is Twitter CTO Adam Messinger, a five-year veteran at the microblogging company who spent the last four years in the role he is now abandoning. Messinger announced his decision to leave Twitter in a tweet in which he thanked the company's co-founder and CEO Jack Dorsey.
Twitter VP of product Josh McFarland has also decided to leave the company. He will remain in his role until the end of the first quarter, then step into a full-time role with Greylock Partners, a venture capital firm based in Silicon Valley that primarily invests in startup companies and growth stage ventures that operate in consumer and enterprise software.
After 5 years I’ve decided to leave Twitter and take some time off. Grateful to @jack for the opportunity and to my team for shipping.— Adam Messinger (@adam_messinger) December 20, 2016
Investors are taking notice of the changes too. At the time of this writing, Twitter's share price is down by more than 4 percent to around $17 a pop. Trip Chowdhry, managing director of research at Global Equities Research, believes even that is a far to rich a price. He issued a note today saying Twitter is "toast," adding that the microblogging service is "not even a $10 stock." Ouch.
"Many investors were foolishly building an investment thesis based on complete stupidity," Chowdhry said.
If he is right and Twitter does fall to $10, it would be a whopping 44 percent decline. It is worth noting that Chowdhry made the same $10 claim back in October with a prediction that Twitter's stock will see a steep tumble in 2017.