Dorsey buys half a million shares in Twitter worth $ 9.5 million to compensate for its losses

Apr

29

2017

number of shares purchased by Dorsey so far since the beginning of 2017 amounted to one million shares
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The founder and CEO of Twitter , Jack Dorsey, said on Friday he had bought more than half a million shares of his company for up to $ 9.5 million in an effort to compensate for the company’s continuing losses.

A filing by the US Securities and Exchange Commission on its Web site showed that Dorsey had bought 572,002 shares in several transactions at a price of $ 16.47 to $ 16.74 a share, which Dorsey himself confirmed in a tweet posted through his official Twitter account.

Dorsi added that the number of shares he bought so far since the beginning of 2017 amounted to one million shares, and the value of shares purchased earlier this year about $ 7 million.

According to the Securities and Exchange Commission filing, Dorsey, with a fortune of $ 1.52 billion, according to Forbes magazine, now has about 16 million shares, representing 2.2% of the company he founded in 2006.

The Dorsey announcement comes just a day after Twitter announced its Q1 2017 financial results, which showed, despite a slight increase in the number of active users per month (about 6%), an 8% Annual basis.

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