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If their main way distributing profits to investors is through stock buybacks then that would mean that their stock should have grown right? 10% down without real dividends is terrible.

In what way are they a dividend stock?

They don't pay dividends and despite share buyback stock is down since IPO

From an investor standpoint, dividends and stock buybacks are roughly equivalent. Both are ways of returning cash to investors. Buybacks can be more tax efficient for investors using taxable accounts.

I don't think the confusion is around the concept, but the characterization of "them" as an instance of one, given the stock has performed terribly.

They are simply in no way that matters a "dividend stock" literally or figuratively.

Many are familiar with the concept of buybacks, but Twitter seems to be a "growth" stock that hasn't grown.

>isn't great

It's terrible

Even flat for 10 years isn't great.