World Cup Twitter action may have given shares a kick, but what now?
Twitter reports that 9.1 million related tweets were sent during the U.S.-Belgium World Cup soccer match Tuesday afternoon, with 1.8 million tweets directly mentioning U.S. goalie Tim Howard. So is this type of World Cup engagement helping Twitter (TWTR) shares, which are up more than 30% in the last month and continuing to climb higher Wednesday morning?
Related:How to get in on the $100 billion asset class that is professional sports
"Twitter does things like the World Cup so well ... the world congregates there," Macke says. "It's like watching a movie with a bunch of your friends. In terms of making money for that, it's less clear."
Related: What Facebook did to outrage users
Macke says Twitter has yet to crack the code on corporations that go on Twitter. He cites the example of the Waffle House, which achieved viral status after this tweet: "We don't believe in Belgium (sic) waffles." It was retweeted 23,166 times.
"Until Twitter can figure out how to let the corporations in so they can hang out with you and all your hipster friends and actually encourage you to use their goods or services, therefore justifying [Twitter's] existence as an ad platform, the stock is going to be a problem," Macke explains.
The stock has another problem: shares are down nearly 38% year-to-date.
Also of note, Twitter has hired Goldman Sachs (GS) banker Anthony Noto, who worked on Twitter's IPO, to serve as the company's chief financial officer. Shares jumped 2.64% after the announcement Tuesday.
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