Why Twilio Stock Triumphed This Week
Activist investors can cause company managers to lose sleep, but at times, their involvement is encouraging for shareholders. That was the case with software-as-a-service (SaaS) provider (NYSE: TWLO) this week. As a result, its share price rose by almost 12% across the Tuesday-to-Friday stretch (markets were closed Monday for the holiday), according to data compiled by S&P Global Market Intelligence.
According to a report on business news site The Information published Wednesday, activist firm Legion Partners has had several meetings with Twilio's board and management. The subject of these talks, according to the site, was potential modifications to the tech company's operations. Possible asset divestitures and changes in board composition were apparently among the specific matters discussed.
In what seems like not a coincidence, Twilio CEO Jeff Lawson will soon lose the "supervoting" status of his company shares. This will drastically cut his share of the voting power to less than 4% from the current level of nearly 22%. Theoretically, that would make it easier for a bloc of shareholders to enact changes he might resist.
Source Fool.com
Twilio Inc Aktie
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