Today, the shares of Twitter closed up by more than five percent down after its revelation that it had deleted millions of accounts that it considered to be suspicious.
After its confirmation that it had closed approximately 70 million accounts in the last two months, the shares of the company dropped by as much as 10 percent, before being able to recover later on in the day. This was the result of an ongoing battle against misinformation and other abuse that are already being rampant on the social media network. The figures reveal that the site is suspending more than one million accounts per day.
The share of Twitter rebounded somewhat after Ned Segal, the chief financial officer of the company, explained that “most of the accounts” that were removed from the service were not active in the last 30 days and are therefore not included in the monthly active user numbers of the company.
In a tweet that was posted on Monday, Segal stated: “If we removed 70M accounts from our reported metrics, you would hear directly from us.”
The Washington Post reported that the massive number of suspensions could affect the daily and monthly user count of the site which the company is anticipated to confirm in its second-quarter report that is scheduled to be published later this month.
Twitter had approximately 336 million monthly active users during the first quarter, even though the said figure is anticipated to increase by almost three percent to 337.07 million.
In one of his posts on the micro-blogging website, Donald Trump, the President of the United States of America, stated: “Twitter is getting rid of fake accounts at a record pace. Will that include the Failing New York Times and propaganda machine for Amazon, the Washington Post, who constantly quote anonymous sources that, in my opinion, don’t exist – they will both be out of business in seven years!”