Another elephant in the room Twitter needs to deal with: The company's first major stock lockup expires on May 5, making more than 500 million shares eligible for sale for the first time.
It's a good thing for insiders and early employees, who for the first time will get a chance to cash out their shares on the public market.
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But it's making long-term shareholders very nervous. If any of the major institutional holders decide to sell a large amount of shares, it could spark a major sell-off in the market and set the share price tumbling.
Twitter has already started to try to deal with this. Earlier this month, CEO Dick Costolo, Evan Williams and Jack Dorsey — some of Twitter's largest individual shareholders —pledged that they had no plans to start selling their shares anytime soon. And while few other institutional investors were willing to go on the record, I'm told other big shareholders like Rizvi Traverse Management and J.P. Morgan wouldn't be selling either.
I expect Twitter to do more to reassure investors on Tuesday.
There are a few smaller issues that I imagine Costolo won't touch on Tuesday's call, but I'm still holding out hope.
Among them: Twitter Commerce. We saw a first look at what it could look like back in January, and it has been working on a deal with payments company Stripe. It would be nice to get an update here.
There's also Vine, the video app that Twitter owns but has yet to directly monetize. Perhaps, like Instagram, Twitter will someday stick ads into the Vine feed.
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And lastly there's the Gnip acquisition, which brings another direct revenue stream — however small — in house. I doubt Costolo will talk about this much, since the transaction occurred during this quarter, but I'd love to hear about Twitter's plans for the service.
—By Mike Isaac, Re/code.net.
CNBC's parent NBC Universal is an investor in Re/code's parent Revere Digital, and the companies have a content-sharing arrangement.