The shares of Twitter are down by 12.6 percent as the social media giant heads towards for its biggest one-day drop in almost five months.
The drop in the share price comes after a report that was released by the Citron Research. It said that the technology firm “has become the Harvey Weinstein of Social Media,” after damning research of the Amnesty International.
In their report, Citron did not slow down of the words that they used. It baed their conclusions on the Amnesty International Report that claimed widespread abuse on the social media platform.
Citron wrote: “Citron has been following Twitter for years and when we read the just published piece from Amnesty International, we immediately knew the stock had become uninvestable and advertisers will soon be forced to take a hard look at all sponsorships with Twitter.”
On Tuesday, the human rights charity said that 7.1 percent of the tweets -with a total of 1.1 million – that were sent to 778 politicians and journalists in the United States of America and the United Kingdom were considered to be “abusive” or “problematic.”
Citron Research disclosed that Twitter had become “uninvestable” after the Amnesty report that said that the failure of the company to “effectively tackle violence and abuse on the platform has a chilling effect on freedom of expression online.”
The Citron report stated: “Twitter lags Facebook and Google on growth.”
It added: “But, any form of tweaking of the business model to “monitor speech” sends traffic, engagement, and total users backwards for Twitter – a deathblow for a company playing catch up.”
It continued: “The hate on Twitter is real and the company is not taking proper steps to curb the problem.
The report concluded: “Citron believes this story has just begun and advertisers will be forced to make more morality-based brand building decisions.”