Shares of Twitter, Inc. are currently in a severe selling pressure during the course of Wednesday’s session, which sharply dropped to 4.25% to a session low of $17.12 after the company has lost another talent executive, continuing what has been an exodus of its high-level leaders in 2016.
Subsequently, chief technology officer Adam Messinger, who had been working at Twitter for five years, announced on Tuesday that is leaving the company. He once served as a vice president of development at Oracle Corporation, and had been Twitter’s CTO post for four years.
During Messinger’s departure, he tweeted that he is leaving his role and plans to “take some time off.”
Twitter Stock Is Falling Today
Ahead of more than 4.4% drop on Wednesday’s close and the announced departure of the company’s two more executives, has driven uncertainties on both analysts and investors, citing it is the final wave of the social media company.
The company’s V.P. of product Josh McFarland also announced his departure, which has now become a mass exodus of employees. Both executives joined the former COO Adam Bain, who has left the company last month, including over half of the rest of Twitter’s leadership team.
Among the list includes VP of global media Katie Jacobs Stanton, SVP of engineering Alex Roetter, VP of human resources Brian Schipper, and SVP of product Kevil Weil.
Given a not so satisfying year for Twitter, which has been currently undergoing several rounds of buyout rumors, the departure of the top-talent executives of the company suggests an unattractive platform to companies like Disney, Alphabet, or Salesforce.
Twitter’s Brain Drain in C-suite
Messinger’s reason of departure is to take some time off, while McFarland said he’s leaving Twitter to go to venture capital firm Greylock Ventures.
Analyst Cantor Fitzgerald noted that Messinger was part of the trio that supported CEO Jack Dorsey as he implemented the new strategies. Meanwhile, COO Adam Bain will soon be replaced by CFO Anthony Noto, which was the second member of the trio, while Bain was the third.
In other words, two-thirds of the trio will be gone.
Current Stance of Twitter Inc. Stock
The chart below illustrates the Twitter Inc. stock ahead of the departure of their top-talent executives.
Given a bearish one of the stock, market participants are now trading with caution and are expected to give up the social media giant.
Thus, the stock is currently prone to a downside bias as soon as the candle breaks down its support level.
As shares of Twitter Inc. are currently in a bearish tone, market participants are recommended to wait on the sidelines as there aren’t any supporting candle present as of writing.
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