Twitter shares go full circle
TWITTER’S battered shares have fallen back to their float price as investors worry about the company’s ability to grow its user base.
Shares in the US-based online short messaging service fell 5.8 per cent to $US26 in overnight trade on Thursday.
Twitter went public in November 2013 at an initial public offering price of $US26. The stock is down 29 per cent since Twitter’s July 28 earnings report, when it warned that boosting its user growth rate would take a long time.
Twitter faces fierce competition from Facebook as well as messaging apps such as Snapchat of Whatsapp.