Shares of Twitter, a popular social media company, fell sharply today, dipping nearly 6 percent by midday trading. The company’s equity fell in value below the $30 mark, setting new lows. As of the time of writing, shares of Twitter are worth just over $29.
For context, Twitter went public at $26 per share, and saw its value skyrocket. The firm debuted at $45.10 per share1, and managed a 74 percent day-one pop. Investors, quite simply, were ecstatic about Twitter.
The street was not done, however. Twitter’s value on a per-share basis nearly reached the $70 mark in early 20142. Then the company went into a massive slump falling to just above $303. Twitter then managed a year of see-sawing, before suffering from a massive decline after its first quarter recent earning report.