Twitter’s stock falls lower than ever – CNET

This post was originally published on this site

twitter-ipo-corbis-crop-2.jpg

Twitter’s stock has hit a new low.


CNET

Twitter’s stock dropped to $13.90 a share Tuesday morning, according to Bloomberg, the lowest since the company went public in 2013. That stock price leaves Twitter with a market cap of just $9.7 billion, compared with a $14 billion value before releasing its quarterly results last week

The drop follows a pattern many have been noting for months now. In January, the New Yorker heralded “The End of Twitter,” pointing to bad omens like an exodus of executives and plunging stock values.

Twitter is in the fickle business of social media, so its lifespan isn’t guaranteed. The company has made a series of changes in a desperate attempt to attract new users, but Wall Street appears to be running out of patience. In April, Twitter also said it had won the rights to stream 10 of the NFL’s Thursday night games this season.

Twitter did not immediately respond to a request for comment.