Twitter’s CEO Just Proved How Much Confidence He Has In The Stock

Twitter just released earnings recently beating estimates and it looks like CEO Jack Dorsey is optimistic about the future of the company. He tweeted that he bought more than 574,000 shares in the company on Friday.

According to an SEC filing, Dorsey paid $16.6218 per share for a purchase price of $9.5 million. The CEO has purchased 1 million shares in Twitter so far this year.

Despite his optimism, shares of Twitter didn’t really move much after the tweet.

The company reported revenue recently at $548 million which came in well ahead of the $511.9 million that Thomson Reuters expected. EPS was 11 cents compared to the 1 cent that was expected. This was a huge beat for the company.

Montly active users saw growth and hit 528 million with daily active users increasing 14%.

Perhaps Drosey’s optimism wasn’t paid much attention to because despite beating estimates, Twitter’s revenue declined 8% year-over-year.

In other news while many liberals have begged Dorsey to ban President Trump from the social networking site, Dorsey refused to do such a thing and said, “I think it’s really important that we maintain open channels to our leaders, whether we like what they’re saying or not, because I don’t know of another way to hold them accountable. Any time we have any leader tweet, including Trump, there’s a very interesting and thriving conversation. A mixture of fact checking, disagreement, agreement, and some random things.”

Disclaimer: We have no position in Twitter Inc. (NYSE: TWTR) and have not been compensated for this article.