Twitter Stock Tumble To Record Low

0 8

Twitter share price fell to a record low on Monday, ahead of Wednesday’s quarterly earnings report.

Shortly after trading began, shares declined more than 5% and dipped as low as $14.73 hitting their lowest point since the company went public in November 2013, before closing at $14.90.

The losses added to Twitter’s stock-price downfall, has shaved more than 67 percent off the company’s market value over the last year.

They have lost more than half their value since Twitter co-founder Jack Dorsey took over as CEO in July.

The decline was attributed to some reports over the weekend that Twitter would soon implement a change to its timeline feed that would make posts appear in a non-chronological order, similar to what Facebook does with its news feed.

Twitter users took to posting complaints about the possible end of the real-time, live tweet stream with the hashtag #RIPTwitter. The reaction led Twitter Chief Executive Jack Dorsey to tweet that Twitter was “still live,” but he didn’t deny that changes to Twitter’s timeline weren’t on the way.

Dorsey has pledged to make Twitter more accessible to mainstream users. On his watch.

A research analyst for Wedbush Securities, Michael Pachter expects user growth to be stagnant again when Twitter announces fourth-quarter earnings on Wednesday.

He wrote: “Twitter remains difficult to use relative to its peers and a solution does not appear to be imminent.”