There is a piece of news regarding the change in Twitter’s CEO as Jack Dorsey steps down from the position. Parag Agarwal is now to take over as a new CEO of Twitter, who was previous chief technology officer at Twitter. The shocking news hit the market strongly, as the shares jumped 3.4%.
On Monday, Twitter announced the stepping down of Jack Dorsey from his position of CEO and the stock prices saw a tremendous hike. As per the records, the stocks of Twitter are actively rising, unlike the previous time when they underperformed. A hike of 10% stock is marked on Monday.
Though, people can witness and continue to see Jack Dorsey in the board member’s list until 2022. Somehow, it is seen that Jack Dorsey’s resignation turns out to be a positive growth for Twitter.
Why did Twitter share rise after Jack Dorsey’s resignation
It is not hidden that Jack Dorsey is the founder of Twitter and Square which is a popular payment app. According to people, it is difficult for a person to handle two different companies. As the quality of work ultimately decreases and it’s not easy to execute all the plans for both the company. Also, the result was in front of everyone that after the foundation of Square, Twitter continued to underperform. So, as per the reports, people find the ray of hope when the CEO of the company got changed. The result of which came that many investors started investing in Twitter’s stock.