Having sold some 379,000 shares in November Twitter’s Jack Dorsey has just purchased 32,000 shares at a cost of $875,000 as demonstration of confidence in the company. Other board executives also purchased shares in what appears to have been a co-ordinated move.
The move seems to have worked with Twitter’s share price rising 7% over the weekend. The price though is far from its peak of $74 just after launch.
Twitter shares have been at an all time low for some time amid uncertainty over direction and financial performance. Current rumours suggest that Dorsey is about to return to a full-time position at Twitter. He has already relinquished his role as CEO at Square (the payments business he founded), to become Executive Chairman.
The current value of Twitter does appear to leave it vulnerable to takeover from other digital players such as Facebook, Yahoo and Google, although Google has claimed to be not interested.