Twitter
Stock Drops to New Low as
User Growth Disappoints Wall Street
Here we go again.
Twitter Stock cratered by more than 10% overnight, opening at a new low of less than $38 a share on Wednesday after the company reported
User Growth in the first quarter that disappointed
Wall Street
See also:
10 Moments on Twitter That Will Go Down in History
If that sounds familiar, it's because
the same thing happened in early February when
Twitter reported its first earnings results as a public company. That time,
Twitter plummeted more than 20% after hours as investors raised a red flag about, you guessed it,
User growth.
The social network reported having 255 million monthly active users in the March quarter, up from 241 million in the previous quarter and 204 million the same quarter a year earlier. At first blush, that might sound like
Twitter is trending in the right direction, but on a year-over-year basis Twitter's users
Growth continues to slow.
Read more...
More about
Twitter,
Stocks, and
Business