Twitter changes 140-character limit (giving investors more room to moan about stock falling to fresh lows )
Twitter has confirmed speculation that it will no longer count images, links and more within the 140-character limit on tweets, giving you plenty more room to share exactly what you're thinking.
For Twitter and its investors, that may not be a good thing, as the troubled social network received another downgrade from a Wall Street analyst, sending shares to an all-time low and giving them more room to moan about Jack Dorsey's turnaround plan (or lack there of).
"You can already do a lot in a Tweet, but we want you to be able to do even more. In the coming months we’ll make changes to simplify Tweets including what counts toward your 140 characters, so for instance, @names in replies and media attachments (like photos, GIFs, videos, and polls) will no longer “use up” valuable characters. Here’s what will change," said senior product manager Todd Sherman in a blog post today.
It also hinted at further plans too, so that users can "get even more from your Tweets".
"We’re exploring ways to make existing uses easier and enable new ones, all without compromising the unique brevity and speed that make Twitter the best place for live commentary, connections, and conversations."
Read more: Licence to Tweet: Britain's top spy agency has joined Twitter
"Sell"
Shares fell to $13.73 per share in early trading on Tuesday, down more than four per cent.
MoffettNathanson said in a note on Tuesday that "hope is not a strategy" downgrading the stock from neutral to sell, CNBC reports.
Jack Dorsey's attempts to turnaround Twitter's stagnating user growth has failed to produce the quick-fix results many investors are looking for. The returning boss has made changes across the board to features and with a shake up of personnel.
Read more: Wanted: Monarchist Twitter enthusiast to earn £50k (plus free lunches)
Twitter management & board should be fired. This is all they come up with. It's crazy how little they've done $twtr https://t.co/tIjZrIldT5
— Ross Gerber (@GerberKawasaki) May 24, 2016
MoffettNathanson analysts cited advertiser fatigue and doing "too little, too late" for the downgrade.
Stock last hit an all time low less than a month ago, touching $13.90 in May, shortly after being downgraded by Bank of America Merrill Lynch and JP Morgan. Shares have fallen nearly 40 per cent since the start of the year.