The stock sits at around $52 at the time of this article.
Quite often, people are bearish about the prospects of Twitter, possibly due to its struggles with profitability and its poor track record of trying to grow its revenue through notable acquisitions such as Vine and Periscope.
Tip Jar is not alone, it has launched alongside Twitter Spaces, a feature to compete with Clubhouse, which allows for a user to create audio-only virtual rooms. Twitter Spaces has gone further and allows users to charge tickets for their private shows, like in the release of a new album or a paid podcast.
Pic source: (https://blog.twitter.com/en_us/topics/product/2021/spaces-is-here.html)
As time goes by, we continue to see these Big Tech companies innovate their own products with their competition’s models of success. YouTube is a perfect example, having adapted its own product to allow creators to have paid subscriptions to their channels. Additionally, they added Super Chats, which work similarly to Twitch Bits and allow for users to have their chats pinned to the chatrooms and also appear on the screen.
Twitter has a roadmap and knows where they want to take Spaces. But, where will it take the stock price? I am keeping an eye on Twitter’s price movement for an entry point.
Pic source: (https://blog.twitter.com/en_us/topics/product/2021/spaces-is-here.html)
Photo Via Unsplash
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