Twitter interim CEO Dorsey buys more shares in show of faith

Dorsey bought 31,627 shares of the firm’s stock on Friday for a total of $875,119, a filing with the U.S. Securities and Exchange Commission on Monday shows.

The stock’s reversal shows that traders are willing to hold off on devaluing the company further, knowing that Twitter executives are putting some skin in the game (albeit very little).

Over the weekend, Bloomberg reported that Twitter’s former CEO Dick Costolo will be stepping down from the micro-blogging site’s board. Peter Fenton, a venture capitalist and Twitter board member, purchased about $200,000 in stock on Friday, while Anthony Noto, Twitter’s chief financial officer, bought roughly the same amount. By adding new bidding options Twitter is allowing marketers decide how to best balance campaign cost efficiency with volume in their mobile ad campaigns. Octafinance tracked institutional investors have historically had a very high interest in the company in focus, and that was also the case in the last quarter.

Dorsey, who owns 26% of Square, according to a regulatory filing, said he would remain CEO there when he took the interim job at Twitter.

Twitter’s shares closed up 9 percent at Dollars 29.50 on Monday.

During its last earnings statement, Twitter’s revenues rebounded, but the company failed to meaningfully grow its user base. We’re not sure, but Tim Armstrong once spent million on AOL shares when his company was being battered.

But while it’s a nice public showing, the fact of the matter is that Dorsey has sold, not bought, a lot of Twitter stock over the past nine months.

Twitter has been seeking to be a bigger player in live events as the social-media company looks to attract a larger number of average Internet users.

Twitter, troubled by slowing growth, on Monday turned to the reliable standby used by TV networks, wireless providers, candy- bar makers and brewers to build business: the National Football League. Under the agreement, Twitter users will have access to significantly more NFL content than before.

In the past year, Twitter loyalists have become increasingly disillusioned with the company’s ability to compete for new users with the likes of Instagram, Snapchat and Facebook.