Thursday, January 21, 2016

Stock Rout Demotes Twitter CEO Jack Dorsey From Billionaire To Millionaire


By Jack Dorsey, Jan 20, 2016 The Guardian

Jack Dorsey is no longer a billionaire, thanks to the crashing stock markets and his struggling tech empire.

As global stocks tumbled on Wednesday morning, so did Square and Twitter, the two tech companies he helped found. An hour and a half after the opening bell, Twitter had fallen 6% and Square was down 11%.

At $8.46 a share, Square has now fallen below the $9 price set when it went public in November 2015. Both Twitter and Square are down about 30% so far in 2016. Twitter is down 57% in the past 12 months.

 
Read More: http://www.theguardian.com

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