Twitter's Stock Surges As Activist Investor Circles
Twitter (NYSE: TWTR) shares are surging Monday on news change could be coming to the microblogging platform operator.
Citing people familiar with the matter, Bloomberg reports that Elliott Management, the activist investing firm, has amassed a "sizable" stake in Twitter and is gearing up to call for change -- including the potential ouster of Chief Executive Jack Dorsey.
Dorsey, who also runs digital payments company Square, has been facing criticism for weeks over his plans to spend half the year in Africa. Investors including Jeffrey Sonnenfeld from the Yale School of Management were less than impressed when Dorsey made the announcement. Sonnenfeld called it "reckless and egomaniacal" and said Twitter's board was "irresponsible and negligent."
Source Fool.com
