Scalper1 News
Well on its way toward a fifth straight day of declines, Twitter ( TWTR ) stock hit an all-time low Tuesday, a collapse that began after it posted Q1 earnings on April 26 which included revenue that missed Wall Street targets, as did its sales guidance for the current quarter. The stock fell 16% the following day, as Twitter collected a wave of price-target cuts and ratings downgrades amid the company’s struggles to add more users. Twitter stock fell as low as 13.90 Tuesday, a penny below its previous all-time low of 13.91, touched on Feb. 11. In the stock market today , Twitter stock closed at 14.01, down 2.7%. The microblog has seen its user growth steadily slow while failing to make many inroads in digital ad growth against juggernauts Facebook ( FB ) and Alphabet ‘s ( GOOGL ) Google. Twitter has gained little ground in social media advertising, Michael Nathanson, an analyst at MoffettNathanson, wrote in a new research report that says Facebook and Google dominate digital ads like no other media marketplace. In November, Twitter brought back company co-founder Jack Dorsey as CEO in a bid to revive the company. Twitter stock is down nearly 40% this year. Scalper1 News
Scalper1 News