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Jack Dorsey recently announced his resignation as Twitter CEO. Upon news of the resignation, Twitter shares actually went up in value as investors look at this as a good thing for Twitter. Jack Dorsey is also CEO of another company called Square whose stock barely moved at all from the announcement. This is interesting because with Jack leaving Twitter he'll be able to spend a lot more time running Square. It seems like the market didn't really care too much about this fact, but this could be a sentiment that investors won't have for long.
Jack Dorsey's Square has been an absolutely amazing stock to own. The stock is up over 1600% in the last 5 years which is an absolutely amazing return. Some investors might feel like the stock is overvalued considering the fact that Square is trading at over 200 times earnings which is far higher than most companies, but Square is a company that could experience massive growth. They are already one of the fastest growing companies in finance.
With Jack Dorsey spending more time with Square, it is very likely that Square starts doing more work with Bitcoin. Jack Dorsey is famously very pro Bitcoin, and Square has already started working with Bitcoin as users of Square owned Cash App can purchase Bitcoin through the service. It is very likely that Jack starts doing more work in Bitcoin through Square.
A lot of this is speculation but it does seem like Dorsey devoting more time to Square could be bullish news for Square shareholders. For awhile, Square has had to operate under a CEO who was also CEO of another company. While the stock has still performed really well under this condition, it is very likely that having a CEO who is fully committed to Square will be a good thing for the company to have.
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