Social media giant Twitter hasn't been having a great time of it lately. Last week it saw its share prices take a hit in after hours trading following quarterly numbers that displayed a distinct lack of user engagement and growth, and today it saw a further 10% dive in prices as the initial six-month lock-up period expired.
The company was listed on the New York Stock Exchange on November 7th of last year, and early investors were locked into their investment fora period of six months before they could offload. Now that that time frame has passed and investors are free to do as they please with their shares, it appears that a good many have opted to get rid and look elsewhere.
Initially priced at $37 per share when the company was listed, this marks the first time share value has dipped below that price, with the lowest point coming early today as shares dropped to $34.84 apiece.
Curiously, the news of share price dips has come hot on the tails of the company announcing that it comfortably surpassed earning expectations. The issue is that, although it's performing well now financially, there's a perceived lack of growth potential, and with a reported half of registered users simply not engaging with the platform any more, concerns are growing that the service could be set for a major decline if something isn't done to reignite user interest.