Twitter has experienced its own bout with volatility since the company went public in 2013. Their IPO price was $26 per share, and it surged to $50 per share in November of that year; they didn’t stay there for long.
By May of 2016, they were down to $14.40 a share, and no other company wanted to buy them. They had not been profitable and were dogged by scandals about fake followers. In May of 2016, something else happened: Donald Trump became the Republican nominee for President, as Sen Ted Cruz (R-Texas) dropped out.
Flash forward to today: Twitter is in the money for the first time, reporting a profit after nearly five years in the wilderness of being subsidized by investors. What changed? Fortune said it was President Trump, whose millions of followers have brought new blood to the once ailing platform.
An analyst told Bloomberg in November that he’s worth about $2 billion, as the stock price has returned to territory north of its IPO. With that kind of juice, Trump is ironically making Twitter great again.
The #1 trend on Twitter right now is #TrumpWon – thank you!
— Donald J. Trump (@realDonaldTrump) September 27, 2016
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