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Twitter's Fake Account Purge Drags Stock Lower

July 09, 2018 - 2:19 pm
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NEW YORK (AP) — Twitter shares tumbled Monday after a news report quantified its purge of fake and malicious accounts, noting that the aggressive action could harm its user growth.

Twitter has been open but vague about its crackdown, an effort aimed at preventing the spread of fake news and making its service more welcoming for real people.

The Washington Post put numbers on the effort Friday , reporting that Twitter suspended 70 million accounts in May and June. Twitter shares fell more than 9 percent amid fears that the removals could dent the company's reported user figures.

The stock shaved that loss after Chief Financial Officer Ned Segal tweeted that most of the removed accounts are inactive and thus don't count against Twitter's monthly user numbers. Twitter reported 336 million users in April.