Shares in Twitter (TWTR) are trading strongly on Wednesday after the company announced a strong set of results for Q4 2020. Investors' fears were eased after worries the removal of former President Donald Trump from the platform may hurt user growth. However, Twitter announced Daily Average User (DAU) growth of 24% year on year. Twitter CFO Ned Segal, speaking on CNBC said the company had enjoyed growth of DAU in January 2021 higher than the average of the previous four January's.
CFO Segal also said former President Trump would not be allowed back on the platform if he ran for president again. Twitter policy is that once someone is removed they are not allowed back on the platform.
Both Morgan Stanley and Rosenblatt increased their price targets for Twitter (TWT) shares on Wednesday.
Market Reaction
Shares in Twitter (TWTR) are trading at $65.10, up 9% at the time of writing during Wednesday's pre-market.
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