Around midday, shares of the
microblogging company were down 10.4 percent to $38.18 on the New York
Stock Exchange, after earlier falling to $37.24, its lowest price since
its November 7, 2013 introduction on Wall Street.
Though
still above its initial public offering price of $26, Twitter has lost
more than half its value since peaking at $73.31 in December 26.
Investors
were troubled by data showing the company had 255 million active
monthly users in March, below the 257 million projected by Wall Street,
said BMO Capital Markets.
It looks like the actual monthly users is not meeting Wall Street expectations and the stock is getting pounded because of it. Twitter needs to do something splashy like buy out Kik or Snapchat or something in order keep themselves relevant.