On Monday, Twitter 's CEO and two of the company's founders announced that they have no immediate plans to sell their shares, sending the stock up more than 3%.
In a statement sent by Twitter to the Securities and Exchange Commission (SEC), Dick Costolo, Twitter's CEO, as well as Evan Williams and Jack Dorsey, the two co-founders, stated that they "do not plan to sell their shares yet."
This announcement is very important and sends investors a good signal. The timing is particularly important as the lock-up period is ending, which could bring an additional 480 million Twitter shares to the market.
Twitter went public last November and has had a particularly successful run, despite fears that it will follow in the footsteps of Facebook and its disastrous course.
The company's shares almost doubled in price as soon as it became available to the public and, much to everyone's relief, they have managed to maintain that level in recent months.
Twitter stock has been struggling in recent days due to concerns about the end of the lock-up period. Now that executives have explained their plans, investors seem to be back in the loop about buying Twitter shares.
