We've talked more than a little about how things have been rough at Twitter lately.
All the problems at Twitter have resulted in a big dip in Twitter's stock price, turning the market against the messaging platform and forcing Twitter executives to try and convince everyone that Twitter stock isn't gross, and in fact might even be yummy.
Mike Isaac at the NY Times is reporting that the c-suite bros at Twitter are now working the whole "See, we're doing it, and it's not so bad?" approach to buying TWTR.
Jack Dorsey, co-founder and interim chief executive, bought more than 31,000 shares of Twitter stock on Monday, amounting to roughly $875,000.
“Investing in Twitter’s future,” Mr. Dorsey wrote in a tweet on Monday, including a link to the Securities and Exchange Commission filing disclosing his purchase.
Even Jack (who we all know isn't even Twitter's biggest fan) is spending almost a cool mil on Twitter stock. Anyone else at Twitter HQ want to try the "Open up, here comes the choo-choo" show of confidence?
Mr. Dorsey is not alone. Peter Currie, a Twitter board member, bought about 9,200 shares, roughly $250,000 in stock. Peter Fenton, a venture capitalist and Twitter board member, purchased about $200,000 in stock on Friday, while Anthony Noto, Twitter’s chief financial officer, bought roughly the same amount.
While Dorsey and co. are hardly the inventors of the show of confidence stock purchase, Twitter is a tech company so you'll have to forgive it for assuming that this is the first time it's ever happened (insert .gif of Anthony Noto shaking his head here).
But regardless of who thought it up, the idea seems to be working because that sound you hear is the NASDAQ vibrating with excitement in its high chair.
Shares of Twitter were up more than 4.50% at noon.