Twitter stock today closed at $26, which is exactly the price at which it set the price of its stock shares back in November 2013.
The stock is now fluctuating a bit in after-hours trading. But earlier today the stock was trading under $26.
This is just the latest rough patch that the San Francisco-based social networking company has encountered in the past few months. The stock has dipped on several occasions since chief executive Dick Costolo stepped down and cofounder Jack Dorsey (currently the chief executive of IPO-bound Square) took on the company’s lead role in the interim.
Making matters worse, Twitter’s heads of growth and product have left recently.
And yet, last month the company beat analysts’ expectations in its quarterly earnings release.
But Facebook continues to outperform Twitter in terms of revenue and user base. It’s not easy to be in the shadow of Facebook, which has almost 1.5 billion users around the world.
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Twitter closes at exactly $26 per share, its IPO price in 2013
from VentureBeat » Social Media Companies | Social Network News | VentureBeat http://ift.tt/1JlbiC1
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