Twitter (TWTR) Stock Soars 9% on Report CEO Jack Dorsey to Step Down, Square (SQ) Up 3%
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Shares of Twitter (NYSE: TWTR) are up 9% Monday after CNBC reported that CEO Jack Dorsey is expected to step down from his executive role.
Dorsey, who also acts as CEO of Square (NYSE: SQ), co-founded Twitter in 2006. He is estimated to be worth nearly $12 billion by Forbes.
Shares of Square are up 3.5% today. There’s currently no information about how Dorsey’s plans to resign as Twitter CEO will affect his Square position.
Including today’s move higher, Twitter stock price is still down 6% YTD.
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