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.

More from Markets

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists

Video: How to Select Mutual Funds in Your 401(k)

Video: How to Select Mutual Funds in Your 401(k)