The following is an excerpt from Kerry Flynn | February 8, 2016 | ibtimes.com |
UPDATE: 5:30 p.m. EST -- Twitter Inc. (NYSE:TWTR) shares fell another 5.28 percent Monday, closing at $14.89, its lowest point since its 2013 initial public offering.
Twitter has reached a new low. The company’s stock opened at $15.51 per share on Monday, down 4.3 percent from Friday's close, and sunk toward $15 per share in early trading.
Twitter Inc. (NYSE:TWTR) stock, which traded at $26 per share when it opened on the New York Stock Exchange in November 2013, has been trading at all-time lows recently. The stock hit a record low of $17.15 on Jan. 19 and has continued to fall. This grim trend tracks product shifts and executive shakeups at the struggling microblogging site.
The stock lows also follow reports of Twitter making a big change to the product that would fundamentally shift the real-time nature of the site. A BuzzFeed report on Friday said Twitter will radically alter the timeline with an algorithm that shows tweets based on popularity and not in chronological order. That news prompted #RIPTwitter to trend on its own network and led CEO Jack Dorsey to comment.
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