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NYSE "Breaks" As Twitter Slumps To New Record Low

Tyler Durden's picture





 

Even as the Dot-Com 2.0 exasperates to new highs, it seems Twitter - the darling of the no-profit-but-lots-of-hype recent IPOs - is losing its lustre. TWTR is down 4% today to new lows post-IPO under $40. The catalyst for this latest slump appears to be a WSJ article about "fake accounts" - whocouldanode? Of course, it wouldn't be the new normal markets without an exchange 'breaking'... The NYSE and NYSE MKT cash equities markets is working to resolve an issue with customer connectivity.

 

Via WSJ,

In securities filings, Twitter says it believes fake accounts represent fewer than 5% of its 230 million active users. Independent researchers believe the number is higher.

 

Italian security researchers Andrea Stroppa and Carlo De Micheli say they found 20 million fake accounts for sale on Twitter this summer. That would amount to nearly 9% of Twitter's monthly active users.

 

 


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Mon, 11/25/2013 - 11:31 | Link to Comment superflex
superflex's picture

Inconcievable.

Mon, 11/25/2013 - 12:22 | Link to Comment Zer0head
Zer0head's picture

this is one of the reasons why Twitter is fcked --

 

Twitter is nothing but a Ponzi and Pyramid scheme combined

Twitter and MLSE make deal on sponsored tweets

 

If you’re tweeting about Saturday night’s Maple Leafs game, you might notice some posts floating into your timeline via the Leafs’ official Twitter account – short videos featuring behind-the-scenes footage and an advertising message from Molson.

Get used to them.

This week Twitter and Maple Leaf Sports and Entertainment entered into a long-term agreement under the social media network’s Amplify program, under which Twitter and a content provider split the revenue from ads attached to videos embedded in tweets.

http://www.thestar.com/sports/2013/11/22/twitter_and_mlse_make_deal_on_s...

 

so basically an organization or individual who contributes content, gains followers etc on Twitter is pushed aside by a deep pocketed sports organization

 

but it gets better

Inside a Twitter Robot Factory


http://online.wsj.com/news/articles/SB1000142405270230460710457921212208...

Mon, 11/25/2013 - 12:36 | Link to Comment fonestar
fonestar's picture

Everything is "a ponzi scheme" according to ZH posters.  I don't like TWTR, (it's pretty much useless) but it's not a ponzi it's just a crappy over-hyped stock.

Mon, 11/25/2013 - 12:44 | Link to Comment asteroids
asteroids's picture

Really low volume and we get this shit? What kind of pussys are in NY these days where they can't take a loss like real men.

Mon, 11/25/2013 - 13:17 | Link to Comment walküre
walküre's picture

The "new" economy.

Social media where your identity is stripped bare, government spies on you and you're being indoctrinated, your inner consumer is massaged and you will pay for it and you will like it!

Mon, 11/25/2013 - 12:56 | Link to Comment LibertyForSome
LibertyForSome's picture

I, for one, am shocked... SHOCKED!

How does the street not see TWTR for the zero-revenue entity goldmine that it is???

Mon, 11/25/2013 - 13:37 | Link to Comment TheFulishBastid
TheFulishBastid's picture

I do not think this word means what you think it means.

  -Montoya

Mon, 11/25/2013 - 14:50 | Link to Comment vortmax
vortmax's picture

Surely TWTR will make an "amazing comback", right?

Mon, 11/25/2013 - 11:32 | Link to Comment q99x2
q99x2's picture

Look out the FED's releasing a new beta version.

Mon, 11/25/2013 - 11:32 | Link to Comment 101 years and c...
101 years and counting's picture

shocking.  stocks about to go red, and the "markets" break.  expect dow +190 by close now.

Mon, 11/25/2013 - 11:36 | Link to Comment gjp
gjp's picture

Nasdaq down 0.01%.  The humanity!  Somebody get some emergency support stat!

Mon, 11/25/2013 - 11:44 | Link to Comment Max Damage
Max Damage's picture

Quick then BTD

Mon, 11/25/2013 - 11:45 | Link to Comment Max Damage
Max Damage's picture

Sorry to late, dip now gone as they BTFD

Mon, 11/25/2013 - 12:02 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

No worries then BTFATH....

Mon, 11/25/2013 - 11:32 | Link to Comment ptoemmes
ptoemmes's picture

I guess when an "exchange" breaks customers are a bit more connected to their money...damn sure gotta fix that. 

Mon, 11/25/2013 - 11:33 | Link to Comment zipit
zipit's picture

In 2000, we had that sock puppet.  In 2013, we got the twitter fail whale.

Mon, 11/25/2013 - 11:43 | Link to Comment DirkDiggler11
DirkDiggler11's picture

I think I like the #AskJPM whale better...

Mon, 11/25/2013 - 11:35 | Link to Comment fonzannoon
fonzannoon's picture

If this keeps going up Linkedin may fall below 10 oz of silver.

Think about that. You can have 10 ounces of silver, or one share of a website that people constantly update so they can hopefully nail that temp to never perm job.

 

Mon, 11/25/2013 - 11:44 | Link to Comment astoriajoe
astoriajoe's picture

i was hoping you'd put the period after temp.

Mon, 11/25/2013 - 11:36 | Link to Comment PP
PP's picture

pakistan in the past only allow stock market down 1% but no limit to upside, this might be useful for twtr

Mon, 11/25/2013 - 11:35 | Link to Comment tallen
tallen's picture

At $39, it's trading at a market cap of $ 21.32B. What a bargain! 

Mon, 11/25/2013 - 11:49 | Link to Comment FieldingMellish
FieldingMellish's picture

No worries. I'm sure everyone will be able to get out "just in time" when the markets crash.  Oh, I forgot.... it's different this time.

Mon, 11/25/2013 - 11:58 | Link to Comment Save_America1st
Save_America1st's picture

Maybe Twitter needs to change it's ticker symbol to TWTRQ

It was kicking ass before everyone found out that was actually "Tweeter".

Or maybe they should hire Mylie Cyrus and call the company "Twerker" 

Porn is the biggest money maker there is on the internet...change the name to "Twatter" and you're good to go!

Or better yet, just poor gasonline over the entire fucking server farm and light that match. 

Mon, 11/25/2013 - 11:57 | Link to Comment SheepDog-One
SheepDog-One's picture

All the more reason to resume the charge to new all-time record daily highs I'm sure.

Mon, 11/25/2013 - 11:58 | Link to Comment game theory
game theory's picture

Everyone sends all their capital to the west coast in hopes of making millions on an IPO. That makes a bunch of [m,b]illionaires out west that immediately cash out and inflate real estate prices and buy lots of fancy cars and toys. They write books telling you to "lean in" or something vaguely useless like that.  California gets lots of taxes to pay off all the public workers. Then the stocks crash because the company's didn't really have sustainable business models. And then all the people sell their stock and write off their losses swearing they'll "never get suckered again". And it turns out "never" seems to be about 12 or 13 years. 

Mon, 11/25/2013 - 12:02 | Link to Comment Billy Sol Estes
Billy Sol Estes's picture

Wealth Creation

Mon, 11/25/2013 - 12:03 | Link to Comment Trimmed Hedge
Trimmed Hedge's picture

#BTFD

Mon, 11/25/2013 - 12:04 | Link to Comment Downtoolong
Downtoolong's picture

"I'm an Angry Bird now."

Every Twitter investor who got sucked in at $45+.

 

Mon, 11/25/2013 - 12:13 | Link to Comment Dr. No
Dr. No's picture

What did people expect?  That is a atronomical valuation for a speaker company trading on OTC.

Mon, 11/25/2013 - 12:23 | Link to Comment Doubleth1nker
Doubleth1nker's picture

Too many Fake Twankers.  You know we're living in la-la-land when its a headline like this that causes a multi-billion market cap company's stock to go down. 

Mon, 11/25/2013 - 12:49 | Link to Comment dbTX
dbTX's picture

I am shocked I tell you, absolutely shocked!

Mon, 11/25/2013 - 13:30 | Link to Comment mrdenis
mrdenis's picture

Fake accounts... for a fake stock ...........

Mon, 11/25/2013 - 13:38 | Link to Comment metastar
metastar's picture

Bots are people too! The Supreme Court says so.

Mon, 11/25/2013 - 14:57 | Link to Comment spine001
spine001's picture

TOP SECRET! do not reproduce in any form or you will be penalized to the maximum extent of the law! This is the secret algorithm of the FOMC:

 

1. S&P500i = m * S&P500i-1 + n (m and n come from the regression line between the balance sheet of the Fed Res and the S&P500 from 2011 and 2013)2

 

2. for t=1 to infinity {

if S&P500 < S&P500i then BUY 1000 SPY

 

else ( if S&P500 = S&P500i do nothing

 

else ( if S&P500 > S&P500i SELL 1000 SPY))

 

S&P500 = Get_value_of_S&P500 }

 

 

 

 

 

 

 

 

 

 

Mon, 11/25/2013 - 23:01 | Link to Comment WTF_247
WTF_247's picture

Fake accounts???  Oh Fuck - I should have known...

Twitter

Facebook

Tumblr

Instagram

Pinterest

Google

Yahoo

Outlook

 

You name it over 50% of the accounts are fake.  Twitter I would guess 70%.  I have software that can create 100s of Twitter verfified accounts in a few min.  Take that globally.  And that is but 1 of 100s of sites.

 

These companies all know it.  They kind of deal with it, sort of.  But they all know that account growth is all they got.  So they lend a blind eye and do not give a shit about it.  They reap billions of combined dollars in investments from the account growth meme.  They get far inflated ad rates.  Its all a scam.  It was 6 months ago, 1 year ago, 2 years ago, 5 years ago.  As time goes on the scam gets bigger.

 

This does not mean the companies have nothing - it means the growth prosects are junk vs actual users.  I would imagine that only 30% of Twitter accounts are truely "unique", Facebook, perhaps 40%.  The fraud comes in presenting the whole book as genuine.  Fake Twitter accounts tweet all the time.  There is tons of software to automate it.  I have some.  It works.  If I wanted I could control 10,000 accounts.  Its a waste of time but pressed to prove it, it could easily happen.  Think about all the idiots in China, Russia and many other countries that have nothing better to do.  They control armies of accounts and sell access to them or use them for spamming.  As quick as 1 is closed down they open 5 more.  The companies CAN NOT STOP IT or the actual negative or 0 growth would show.

 

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