Twitter (TWTR) Stock Pops After COO Departure

NEW YORK (TheStreet) -- Twitter (TWTR) stock moved higher on Thursday even on the news of the social network's biggest executive departure since it went public. 

By market close, shares had added 3.5% to $36.79. Trading volume of 58 million shares was well over its three-month daily average of 33.6 million. 

In a filing, the company said chief operating officer Ali Rowghani had resigned, though he would remain a Twitter employee, acting as strategic adviser to CEO Dick Costolo. Of note, Twitter said it didn't intend to find a replacement but rather that Rowghani's remaining responsibilities would be delegated to existing executives.

Rowghani had held the role of COO since 2012, prior to which he had acted as chief financial officer for two years. 

Must ReadWarren Buffett's 25 Favorite Stocks 

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TWTR ChartTWTR data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

Ryanair Customers Take Their Complaints to Social Media

Puerto Rico Is Completely Without Power Because of Hurricane Maria

Comcast Dodges Big Social, Moves Watchable In-House

Twitter Appoints Former Google CFO to Board of Directors