Twitter sheds $14 billion in value this year
Source: Marketwatch
Twitter TWTR 2.21% will report results Tuesday, but its luster on Wall Street has faded dramatically following an impressive initial public offering in late 2013.
Twitter shares were up more than 1% in afternoon trading ahead of the report. But the San Francisco-based social network has shed roughly $14 billion in value this year, according to FactSet data, with its market cap having dipped below its IPO level.
Twitter’s market cap stood at $24.5 billion after its first trading day in November, and soared to about $40 billion at the end of December, before sliding to a little under $23 billion today.
The slower-than-expected rate at which Twitter has added monthly users has been the key factor for the more downbeat view on Wall Street.
Twitter reportedly will push new metrics by which its reach should be measured, but for now, analysts are zeroing in on how many monthly active users the site added in the last quarter.
Read more: http://blogs.marketwatch.com/thetell/2014/07/29/twitter-sheds-14-billion-in-value-this-year-as-market-cap-dips-below-ipo-level/
Not a big fan. Politicians communicating via Twitter should be banned, the bastardization of debate plays into the hands of those that court the stupid vote.
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They just moved into the low-income mid-Market section of SF and have completely upset the applecart.