Twitter shares plummet after being compared to Harvey Weinstein
Twitter shares plummeted 11 percent Thursday after a short-seller called the Web site “the Harvey Weinstein of social media.”
Citron Research’s Andrew Left piled on the social network in response to an Amnesty International report from earlier this week that labeled it a breeding ground for abuse and hate speech.
“When we read the just-published piece from Amnesty International, we immediately knew the stock had become uninvestable and advertisers will soon be forced to take a hard look at all sponsorships with Twitter,” Left’s report said.
Amnesty International reportedly studied millions of tweets sent last year to female journalists and politicians and judged them on their “problematic” and “abusive” character.
“Twitter is a place where racism, misogyny and homophobia are allowed to flourish,” said Milena Marin, a spokeswoman for Amnesty International.
Shares fell $3.64, to $29.29.
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