Key Highlights
- The stock, which had fallen more than 16% year to date before the announcement, hit $66.62 in extended trading, putting it on pace for its best single day since February 2022.
- Dorsey did not frame it as a crisis move.
- He wrote on X: "We're not making this decision because we're in trouble.
- Our business is strong.
- Gross profit continues to grow, our customer numbers are increasing, and our profitability is improving." Wall Street believed him.
