Not sure anyone has heard but, Jack Dorsey resigned from Twitter.
Jack Dorsey had been the CEO of Twitter, along with the CEO of Square, a financial payments company. Many thought Square was where he spent most of his attention. Those who judge attention by stock price would clearly say Dorsey’s attention was on Square.
- Twitter ($TWTR) -6.97%
- Square ($SQ) +5.47%
Jack leaving the company was a surprise to many in the mainstream media, but when we heard the news my first thought was ‘It's about freakin’ time!”
When Facebook rebranded itself as Meta, companies that were already leading the charge into the Metaverse increased in value exponentially. A favorite of Masters in Trading Roblox, rallied from $70 to last trading $130. Other companies actively building in Web 3.0 followed.
The new CEO of Twitter, Parag Agrawal – effective immediately the press releases say. Jack will stay on the board for another year but then leave the company for good.
So why Parag? That’s an easy one.
Parag helped develop Twitter’s cryptocurrency features, such as the ability to send “tips” in Bitcoin. His areas of interest seem to point towards Twitter’s continued expansion into the metaverse, a focus for many companies in the wake of the Mark Zuckerberg news.
Agrawal was named CTO in 2017, starting with Twitter in 2011. Throughout his tenure Agrawal had become something of a confidant to Jack, and seems to be one of his main sources of education about Web 3.0.
In 2019, Dorsey recruited Agrawal to help oversee Bluesky, a Twitter-funded independent research initiative to create decentralized (Web 3.0; a.k.a the Metaverse) social media platforms moderated by users themselves.
So to sum it up, Jack Dorsey departs Twitter for a full-time CEO. Twitter is about to invest heavily in the most innovative space we have seen in generations.
What actionable trades can we take advantage of?
- Buy 75 shares $42.82 ($3,211 Risk)
- Limit to Buy 75 Shares at $41.50 ($3,112.50 Risk)
- Limit to Buy 100 Shares at $40.10 ($4,010 Risk)
What about an Options Trade?
As you probably know, I love trading options. As a former options market maker I consider myself fluent in the art of Options Trading. Today, the VIX trades above $25. I prefer not to buy a long term options position with the VIX at $25, and I also am not in favor of selling options (options premium) on Twitter. For this reason, my preference today is buying stock in the tranches I shared above. By year's end, I most likely will favor long term options IF the VIX trades under $16 or so.
Limited Time Offer
Get 30 Days of Wall Street Wiretapper for JUST $97!
Find Profitable Unusual Options Activity Trades
Wall Street Wiretapper™ is an AI-driven learning robot that quickly identifies unusual options activity opportunities.
BONUS: Start Your $97 Trial – We'll Throw in…
Our BEST SELLING Unusual Options Activity Workshop Worth $197!