Skip to main content

The Opening Bell is powered by The Water Coolest. You can sign up for TWC's full, daily email newsletter here. In the meantime, check out one of the features from today's edition ...


Looks like a corner office might be opening up at Twitter HQ. *Jack reading this subtweet.*

Elliott Management has taken a $1B stake in Twitter, demanding sweeping changes across the board. In more ways than one. The activist firm approached Twitter privately about changes it’d like to see, and have supposedly had constructive discussions since.

Amongst these changes are board seats, with Elliott nominating four directors … even though there are only three seats up for grabs during this year’s annual meeting. The biggest change, however, deals with the head honcho himself, @Jack.

Jack Off

It’s rumored that Elliott wants to replace Jack as CEO, as the activist company is concerned with Twitter's lack of innovation and performance lately. Somebody wants an edit button. In a time where Snapchat and Facebook have focused on filters and stories, Twitter has chosen to focus on its core service, allowing its users to deliver hot takes 280 characters at a time.

This shouldn’t be a surprise though, as Twitter has been a potential target for years. Why? For starters, Dorsey is one of the only people to serve as CEO of two public companies at once. You see, when he’s not trying to keep tabs on trolls, he’s processing payments and helping grow businesses over at Square. I guess he can’t collect unemployment then.

Twitter only has one class of stock, which does not give Dorsey voting powers like other social media CEOs like the Zuck at FB, or Evan ‘the Schmeigel’ Spiegel at Snap.

Speaking of its stock ... it has fallen more than 20% since its piss poor Q3 earnings results, and the company blamed bugs its inability to sell ads and ‘accidentally’ sharing personal info.

The bottom line 

Well, we might be saying goodbye to the beard after @Jack’s on again, off again relationship as CEO of Twitter since its founding 2006. It appears that Elliott wants Jack goodbye, as the removal of his nose ring didn’t have as much positive impact on Twitter's stock performance as he’d hoped.

During Jack’s latest tenure as CEO (since 2015), shares have fallen 6.2% while Facebook has risen over 121% ... is that bad?

Shares have now broken positive though, as $TWTR rose 7.8% from the news during after hours Friday.

Elliott Management Nominates Four Directors to Twitter’s Board [WSJ]

But wait, there's more. The above is just one feature that appears in today's edition of The Water Coolest's daily email newsletter. Sign up now to get the latest news and commentary delivered to your inbox every weekday at 6 AM EST.


(Getty Images)

Opening Bell 2.7.20

@Jack trolls the sh*t out of analysts ...


Opening Bell 11.27.19

"I'll tell you when I've had enough." - Papa John


Opening Bell 4.28.20

Saudi Arabia has tickets to the show

wework masa son

Opening Bell 11.12.19

You had one job, Claure ...

Getty Images

Opening Bell 1.29.20

Apple has Pablo Escobar levels of cash on hand ...


Opening Bell 5.21.19

Remember when the biggest problem Ford had was exploding Pintos?

By m01229 from USA (Shake Shack burger and fries) [CC BY 2.0], via Wikimedia Commons

Opening Bell 5.3.19

Morningstar (think veggie burgers, not research) has beef ...