Twitter Inc. stocks have fallen to yet another all-time low, with the social media giant's stock prices dropping 1.4 percent to close at $19.98 per share in New York last Friday. The massive slump marks the lowest point in the company's stocks even as CEO Jack Dorsey has announced a series of product improvements to attract more users and placate investors, according to Forbes.
With the stock prices finally going below the $20 mark, Twitter's stocks have now fallen to its lowest level since the company went public in November 2013. When it began trading in the New York Stock Exchange, Twitter's stocks were valued at $26 per share.
The previous year has not been kind to the social media giant, with the company falling below its IPO price last August and investors having reservations about changes in leadership. Overall, Twitter stocks have fallen a total of 35 percent for 2015, reports Live Mint News.
The massive drop in the company's stocks happened just a few days after CEO Jack Dorsey announced a number of possible improvements for the social media platform, including raising Twitter's iconic 140-character limit to as much as 10,000 characters per tweet.
Investors, however, remain dissatisfied with the direction and current status of the company, as shown by Twitter's stocks falling continuously even during after-hours trading last Friday, according to TNW News.
Rumors have been circling that the current year would signify a prominent tech slowdown. If the rumors are indeed true, 2016 will be a tough year for Twitter indeed.
For more business news, click here.
