Home » Social Media , Stock market , Stocks , Twitter Shares , TWTR » Twitter Shares Slide to 10-Month Lows
Shares of Twitter (NYSE:TWTR) posted losses of 2.44% on Tuesday, closing at a 10-month low of $15.19. Towards the close of the trading day, the stock was trading as low as $15.17.
The San Francisco-based social media giant grew in terms of active users last year, having 319 million monthly active users in Q4 of 2016, but the company has been struggling to bring in sufficient ad revenue.
Twitter’s Q4 results showed GAAP net loss of $167 million. Additionally, the company said competition for advertising dollars is likely to get more fierce in 2017, “revenue growth will continue to lag audience growth due to the sales cycle, and could be further impacted by the escalating competition for digital advertising spending,” said Twitter COO Anthony Noto, in February.
Although the social media company has started to roll-out new updates last month to address bullying, prevent bots from making multiple accounts and minimize offensive & “low-quality” Tweets, the changes have not done much to boost investors’ confidence.
"We’re working to identify accounts as they’re engaging in abusive behavior, even if this behavior hasn’t been reported to us. Then, we’re taking action by limiting certain account functionality for a set amount of time, such as allowing only their followers to see their Tweets.," said Twitter VP of Engineering, Ed Ho, last week.
Additionally, investors confidence has been on the decline as top Twitter executives and talent continue to the leave the company. Twitter’s head of entertainment & lifestyle partnerships, Lara Cohen, departed in February.
Since announcing its Q4 and FY 2016 results on February 9, 2017, Twitter’s share price has been in decline; including today's loss, TWTR has dropped by more than 19%: