social media

Twitter Shares Fall Amid Data Privacy Debate

Shares in Twitter fell over 11 percent Tuesday after Citron Research said it is shorting the social media website, citing the growing scrutiny surrounding social media and how companies handle users' personal information.

Citron Research's executive editor Andrew Left told CNBC "Everything's changed; everyone is talking about data privacy," less than two months after he said he had bought shares and had a bullish outlook on the company.

"Citron short Twitter," Left tweeted. "Near-Term target $25 Of all social media, they are most vulnerable to privacy regulation Wait until Senate finds out what Citron has published."

In response, Twitter issued the following statement: "To be clear - our data licensing business does not sell DMs. Any reports to the contrary are wrong."

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