Twitter lost 20% of its value on the stock market after debugging fake accounts

The bad news of tech companies, after the collapse of Facebook, have grown with the fall of Twitter on the stock market. , after registering one million fewer users, amidst debugging fake accounts, which subtracted 20% of the stock market value that he had on Thursday.

The company that Jack Dorsey directed, after the market closed, recorded a capitalization of 25,680 million US dollars on the Bloomberg platform, a decrease of 6,640 million US dollars. At the end of the day, the species dropped by 20%. This is the market reaction after the publication of quarterly results, which showed a decline in the number of users greater than what the market was expecting.

Dorsey pointed out that the current strategy is investing in the "long-term health" of the company, while in a letter to shareholders, it was stressed that debugging accounts will allow business growth as the level of conversation in the network improves

Twitter is in a purge of fake accounts and fight against spam, which has lowered the number monthly active users of one million and stand at 335 million, compared with the previous three months. In addition, according to Reuters, the technology suggests that the decline in the number of people could reach 330 million.

Brian Wieser, analyst at Pivotal Research, in a note to investors, underlines this strategy because "they improve Twitter's position with regulators and advertisers, who consider the user base to be of better quality . "