Twitter seems to be losing the confidence of ardent believers such as Chris Sacca, who once said that he would defend the stock like one of his children, according to Business Insider. It appears from a series of tweets Sacca made on Tuesday that he has shed all his stake in Twitter.
Sacca no longer interested in Twitter
In contrast, last month, CEO and co-founder Jack Dorsey revealed that he had bought $7 million worth of Twitter’s stock. Picking up those shares means that Dosey has faith in the company and believes that it is undervalued.
However, Sacca, who has stakes in Uber and Instagram, differs from Dorsey, and apparently is no longer sure about Twitter’s future. The billionaire venture capitalist tweeted to his 1.8 million followers that his fund parted ways with Twitter after Dorsey was brought back to the helm in October 2015, and then, he sold his personal stakes in the fall of 2016.
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