Jack Dorsey-Backed Bluesky Thrives As User Engagement Drops On Musk's X And Zuckerberg's Threads
Portfolio Pulse from Ananya Gairola
User engagement on Elon Musk's X (formerly Twitter) and Mark Zuckerberg's Threads has declined, while Jack Dorsey-backed Bluesky is seeing a surge in users. X's daily active users in the U.S. dropped from 22 million in July to 21 million in September, while Threads' users plummeted from 3.4 million to 1.1 million. Bluesky, however, gained over 50,000 new members after Musk threatened to charge users on X, bringing its total membership to 1.125 million.
September 26, 2023 | 7:42 am
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NEGATIVE IMPACT
Meta Platforms Inc. (NASDAQ:META), owner of Threads, is experiencing a significant drop in user engagement, which could negatively impact its stock price.
The significant drop in user engagement on Threads, owned by Meta Platforms Inc., could lead to a decrease in ad revenue and negatively impact the company's financial performance, potentially leading to a drop in its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80