Twitter Dips Below $20: Here’s What You Need To Know

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Twitter’s Q3 Wasn’t A Disaster But What Did Management Talk About After?

What a wild wide.

Shares of Twitter (NYSE: TWTR) traded below the $20 per share mark and were lower by more than 20 percent on Thursday following a Recode report that various companies who reportedly were interested in acquiring the social media company don’t plan on submitting any official bids.

According to Recode’s sources, Google has no plans in placing a bid for Twitter despite the fact that it dabbled in the past in the social media space with its failed Google+ .  Even though the company has a trove of cash sitting on the sidelines, the company did introduce a plethora of new hardware products, including a potential rival to the iPhone 7, so acquiring Twitter at this point in time could be seen as a distraction.

Essentially, Google has way too much on its plate right now so it is out.

Recode also reported that Disney (NYSE: DIS) was at some point interested in buying Twitter but it also won’t be proceeding with a formal bid.

An acquisition of Twitter by Disney made sense.  Disney’s media assets include various TV channels, most notably ABC and ESPN and is looking for new and innovative ways to stream its content to viewers.

Disney acquired a minority stake in BAMtech back in early August which streams baseball games on behalf of Major League Baseball.  Twitter has a similar agreement in place with the National Football League (NFL) to stream Thursday night matches so an acquisition of Twitter could be seen as a complementary move.

Alas, Disney is not interested in proceeding with a bid.

Who Else Is Out?

Google and Disney are not interested in buying Twitter, at least according to Recode’s sources.

Recode added in its reportthat Apple (NASDAQ: AAPL) is “unlikely” to buy Twitter.  Similar to Google, the Cupertino-based company’s plate is just too full.  

According to a separate Bloomberg report, Apple is scrambling to move all of its cloud-focused teams under one campus which in itself poses a logistic challenge and acquiring a social media platform, something Apple has never dabbled in, doesn’t appear to be the right move right now.

And then there is Salesforce (NYSE: CRM).

Salesforce’s CEO Marc Benioff shied away from commenting directly but various reports have surfaced that its top investors won’t be happy if it is proceeds with a deal.  And there is also the fact that at a $45 billion valuation buying any company for around 40 percent its size poses its own sets of difficulties.