Twitter Technical Analysis & Market News – 09 September 2022
09 Sep 2022
TWITTER: NEWS & TECHNICAL
Twitter agreed to pay whistle-blower $7 million in June compensation settlement
Twitter Inc agreed in June to pay $7 million to settle a compensation dispute with the whistle-blower whose allegations will be part of Elon Musk’s case against the company, according to a source familiar with the matter.
Whistle-blower Peiter “Mudge” Zatko, who was fired by Twitter (NYSE:TWTR) in January and was the company’s security head, last month accused the social media firm of falsely claiming it had a solid security plan and making misleading statements about its defences against hackers and spam accounts.
Zatko will meet the U.S. Senate Judiciary committee on Sept. 13 to discuss the allegations.
The settlement resolved a dispute about unpaid compensation and did not prevent him from filing a whistle-blower complaint, which he did soon after reaching the agreement with Twitter, according to the source.
Zatko’s attorney said Zatko cannot comment on the existence of a settlement with Twitter.
Zatko’s settlement was first reported by the Wall Street Journal, which said he agreed to a nondisclosure agreement that forbids him from speaking publicly about his time at Twitter or disparaging the company.
Details of Zatko’s settlement will soon be made public in the court filings in Twitter’s legal battle with Musk, who has claimed he can walk away from his $44-billion agreement to buy the social media company.
Musk has alleged the company misled him about the number of bots or fake accounts on the platform and about the proper way to measure active users. Twitter is suing him to force him to buy the company for $54.20 a share. A trial is scheduled for next month.
TWITTER Technical Analysis: Daily Chart
In the weekly charts, TWITTER is trading in an up channel. TWITTER is currently trading above all SMA.
RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 40.75 & the resistance level is at 42.67.
TWITTER will trade in up channel until there is trend reversal.
How to Trade TWITTER this Week:
TWITTER will follow the uptrend until their trend reversal. So, remain bullish on TWITTER.