CEO Jack Dorsey buys $7 million in Twitter stock
Twitter may have had really bad earnings last quarter, but its cofounder and chief executive Jack Dorsey continues to believe strongly in the company. On Tuesday, Dorsey. tweeted “#LoveTwitter,” along with a link to an S.E.C. filing announcing that he’d bought $7 million in Twitter stock. The new shares Dorsey now owns make up about 3 percent of his Twitter holding overall. On Thursday, Twitter announced its fourth-quarter earnings for 2016. It missed analysts' expectations for revenue, and its advertising revenue bookings shrunk 1% year-on-year — sending its stock tumbling 10%.
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