Giles Coghlan LLB, Lth, MA
Financial Source
For some time now disgruntled users of Twitter have been looking for a reason to move away from Elon Musk’s platform. In June this year, Australia’s cyber regulator told Twitter to explain its handling of online hate. Twitter had become the most complained about platform since Elon Musk lifted bans on over 50,000 accounts. Elon Musk maintains he is defending free speech, but finding the balance in providing a safe platform vs a free speech platform is proving divisive amongst many users.
So, when Meta announced a rival to Twitter many jumped on board. In fact, 30 million registrants applied on the first day. So, will Meta be actually able to take on Twitter? Will Twitter users migrate over to Threads? If they do, then many will expect Meta’s share price to gain.
Seasonally, Meta has a very strong summer with gains over 90% of the time for an average return of 9.26% between July 1 and July 25.
Major Trade Risks: The biggest risk here is to do with Twitter. Can Twitter launch a legal battle against Meta? Will Threads prove unsuccessful in gaining more Twitter users? Is Threads a platform that consumers will use?
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