A Group of Die-Hard Twitter Users Wants to Turn It into a Co-Op
Wall Street doesn’t love Twitter. Why not sell it to the users who do?
It’s a far-fetched idea, of course. But as Twitter’s stock has continued to slide, with the company currently headed toward a record low value of just $10 billion, the idea that the San Francisco–based company could give up on Wall Street and hand itself over to its core user base is gaining momentum—and it will soon get a vote. The petition has enough traction that Twitter is acknowledging the petition, which has made its way onto the agenda for the company’s annual shareholder meeting, scheduled to take place next month, Recode reports. The company also made mention of the petition in a proxy filing with the S.E.C. last week.