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Why Twilio Stock Was Moving Higher Today

Jeremy Bowman, The Motley Fool
·2-min read
Why Twilio Stock Was Moving Higher Today

Shares of Twilio (NYSE: TWLO) were moving higher today after The Information reported that an activist investor was pushing for changes in the board, inspiring hopes for a recovery in the sagging software-as-a-service (SaaS) stock. This morning, The Information reported that activist investor Legion Partners has met several times with the board of directors and management, calling on them to make changes to the board and make moves, including divestitures in order to improve the company's profitability and boost the stock price. CEO Jeff Lawson is also set to lose the supervoting status of his shares next month, reducing his voting stake from 21.8% to 3.7%, which could be a catalyst for shareholder-driven changes to the company, as that will also give activists like Legion Partners more power.

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