Latest
Home / Social Media Marketing / Twitter CEO Jack Dorsey snaps up shares worth about $9.5 million

Twitter CEO Jack Dorsey snaps up shares worth about $9.5 million



(Reuters) – Twitter Chief Executive Jack Dorsey snapped up more than half a million of the company’s shares for about $ 9.5 million, a regulatory filing on Friday showed.

Dorsey bought 574,002 Twitter shares in multiple transactions at prices ranging between $ 16.47 and $ 16.74 per share, according to the filing.

That adds to the roughly $ 7 million worth of Twitter stock Dorsey bought earlier this year, bringing the total number of shares he has purchased this year to 1 million, the CEO said in a tweet.

According to the filing, Dorsey now owns about 16 million Twitter shares, which equates to a stake of about 2.2 percent in the company he co-founded.

Dorsey’s disclosure comes a day after Twitter reported better-than-expected user growth for its first quarter, following several quarters of stalled growth.

Twitter’s shares rose 1 percent to $ 16.65 after the bell on Friday.

The stock closed up nearly 5 percent in regular trading on Friday, adding to a gain of roughly 8 percent on Thursday when the company reported its results.

(Reporting by Narottam Medhora in Bengaluru; Editing by Savio D’Souza)

Social – VentureBeat

About Social2Step

http://www.socialtwostep.com - Social Media Marketing Article Resource Website. Social Two Step is the definitive guide to all your social marketing reference material including Facebook Marketing and Twitter Marketing. Social Media Management Service Available to build up your Facebook and Twitter audiences - socialpostsdone.com

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Timber by EMSIEN 3 Ltd BG