The stock price of Twitter Inc [linkme to=”TWTR”] had fallen by over 2% today in the early morning trading session. The stock has however enjoyed a rise of over 36% in the period of 1 month. The stock closed at $34.58 on Monday.
The San Francisco based company is an online social networking service that enables users to send and read short 280-character messages called “tweets”. Registered users can read and post tweets, but those who are unregistered can only read them. Users access Twitter through the website interface, SMS or mobile device app. Twitter Inc. and has more than 25 offices around the world.
A spam campaign ran rampant Sunday night and Monday morning on Twitter, targeting celebrities who tweeted about the Academy Awards. These bot accounts pretended to be a given celebrity, with account names like “JordanPeele__” and “GaIGadot____”. They gained attention by replying to the star’s tweets and included a URL leading to a scam.
Social media ploys like this take advantage of Twitter’s struggle to squash bot accounts, which people also have used to spread disinformation. Bots make up a small but significant portion of the social network. Twitter said bots make up only 5 percent of its users, while other studies suggested three times as much.[adv_smv1 link=”2″]
Twitter’s algorithm ranks reply tweets by engagement, and bots have gamed the system to get more eyes on their scams. The URL in the Oscar campaign plays a shell game by disguising itself as a Tumblr page called fixyourselff.tumblr.com and then redirecting to the scam page, which offers a free gift card in exchange for your personal information.
These scams on social media have been running for a while, with the attackers shifting their focus every time there’s a major event, Tully said. The bots are easy to reconfigure and customize, and the bot armies are simple to build at scale, he said.
A Twitter spokesman said the company is aware of “this form of manipulation” and is “proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.”
The scam link in the Oscar bot campaign received more than 68,000 clicks on Monday before the company deleted associated accounts, according to a Bit.ly analysis. It’s received more than 277,000 clicks since it was first posted on Feb. 26. The bulk of those clicks — 120,814 — came on on Sunday night, when the Academy Awards broadcast took place.
Our analysts have given a “SELL” rating to Twitter’s stock. The stock has seen a huge rise in this previous month by rising over 36%. All those who have enjoyed a profit of at least 10% are advised to keep their gains. However, for the long run, it is advisable to hold as investing in a company like Twitter is a very promising aspect.