AntonioSolano
There were several avenues towards monetization that Elon Musk outlined when taking the reins of Twitter (TWTR) last October, and the company seems to be making progress on all three fronts.
In an interview this week with the BBC, Musk declared that “almost all” of the advertisers who abandoned Twitter (TWTR) after his $44B acquisition have returned, while the messaging app has doubled down on paid subscriptions from Twitter Blue and could even become profitable as soon as this quarter.
The bigger trophy is turning Twitter (TWTR) into an “everything app,” which would handle everything from messaging and payments to shopping and financial services. Steps are being taken in that direction with Twitter Inc. officially merging into X Corp. with a move to Nevada, while a partnership was inked with eToro to let users trade stocks and crypto.
Twitter (TWTR) already added pricing data for $Cashtags in December, and as trading becomes integrated with social networks, other names in the space are watching for ramifications or might be exploring some dealmaking of their own. Keep an eye on Robinhood (NASDAQ:HOOD), Interactive Brokers (NASDAQ:IBKR), Charles Schwab (NYSE:SCHW), E-Trade (MS) and Cash App (SQ).
Also check out the latest list of potential candidates that might replace Musk as head of Twitter.
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