Citron Research also said it thinks the 'story has just begun and advertisers will be forced to make more morality-based brand building decisions' regarding use of Twitter. (Photo: Jason Doiy/ALM)
(Bloomberg) –Twitter shares plummeted after Citron Research said a report by Amnesty International documenting the abuse of women on the platform shouldn't be ignored by investors.
“Twitter has become the Harvey Weinstein of social media,” Citron said in its report, setting a new price target of $20. “Advertisers will soon be forced to take a hard look at all sponsorships with Twitter.”
The shares fell as much as 13 percent to $28.51, the most since July. The broader markets also fell amid concerns of a government shutdown.
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