Twitter (TWTR) has moved to safeguard users’ information from potential Russian surveillance amid an ongoing crackdown on free speech in the country. According to Bloomberg, the social networking giant has launched a new version of the app for the Tor internet browser. TWTR shares fell 0.73% to close at $34.12 on March 10.
Twitter is a social networking company that offers an app connecting users to people, ideas, news, opinions, and information.
Twitter On Tor
By hosting the service on the Tor browser with a “.onion” domain instead of a “.com”, Twitter users’ location and activity will be hidden, allowing Twitter to keep its users safe as the Russian government imposes restrictions on the app.
While Twitter has been restricted for more than a week in Russia, Facebook (FB) has been blocked for allegedly fact-checking state-backed media. The two social networking juggernauts are exploring new options to ensure their users can continue to communicate amid the ongoing crackdown.
A Twitter spokesperson said making the service more accessible is a top priority. Hosting the service on Tor, which is often linked to the dark web to hide identity, is seen as one way of ensuring that Russian citizens can continue to use the service amid the restrictions.
Stock Rating
Last week, Benchmark Co. analyst Mark Zgutowicz reiterated a Hold rating on the Twitter stock.
Consensus among analysts is a Hold based on 8 Buys, 16 Holds, and 2 Sells. The average Twitter price target of $46.71 implies 36.90% upside potential to current levels.
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