After some recent disappointing trading days, the stock market is finally beginning to notice Twitter’s (NYSE:$TWTR) work to improve its platform and finances, Steve Ballmer said to CNBC on Friday, July 14.
Ballmer, former CEO of Microsoft (NASDAQ:$MSFT) and current owner of the Los Angeles Clippers, is a major investor in Twitter, believing it to be a good asset. Product and monetization improvement are two of the most important things for a company to keep on top of and Twitter has been working towards both these things, Ballmer explained in an interview. The market understands this, and, as a result, the social media company’s stock price has started reflecting its work.
Since June 16 to the close on July 13, Twitter’s stock has gained by almost 16%. Year-to-date, the stock has seen a gain of around 18.5%. It’s a slow growth, considering the company’s stock has decreased more than 50% since its initial public offering back in November 2013. As such, Twitter can’t afford to stop pushing, Ballmer noted. The social media company still has a lot of work to do if it wants to continue its path up.
As of 10:31 A.M. PT, on July 14, Twitter’s stock has gone up by about 2.48% since it opened this morning, landing itself at around $19.80.
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