Elon Musk reports Twitter ad revenue down
Twitter's ad revenue is down 50% and the company has a negative cash flow, according to Elon Musk.
Sara Fischer, Senior Media Journalist for Axios explained that this news will likely put further pressure on Twitter stock, which is already underperforming in this year. Fischer pointed out that Twitter's struggle to increase its user-base and engagement has made it hard to attract advertisers. This news is a blow for Twitter, who has been struggling with growing its user-base and increasing engagement. This news will likely put further pressure on Twitter stock, which is already underperforming in this year.