Thursday, April 30, 2015
Embarrassing
Twitter's numbers came in well below expectations yesterday and the stock took a beating. The way it happened is embarrassing to the company and CEO. Apparently, its investor relations vendor posted the earnings release too early. A spider crawling web pages discovered it and posted the results on... Twitter. Wall Street took notice and the run from the stock was on. More embarrassing was the earnings miss after promises and forecasts from the CEO. Analysts are now suggesting that the CEO has compromised his leadership and should depart. Others are questioning the long-term viability of the company. That is about as bad as it can get. One more quarter of poor numbers and the CEO can pack his bags. PR gaffes can be fatal.
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