Hope you sold TWTR by 4 p.m. ET. Or really, by December 2013.
Twitter stock just plunged almost 13 percent in after-hours Tuesday trading after the company revealed poor first-quarter 2016 revenue. Shares immediately lost more than $2 apiece after the social media company whiffed on Wall Street’s top-line target.
Before the bad news, it was actually a fine day to own a piece of Twitter, all things considered. Company stock had closed the regular trading day at $17.75 per share, up 66 cents, or plus 3.86 percent.
But not anymore.
Twitter blamed its lackluster sales on slower-than-anticipated brand marketer spend. In terms of ad sales, the struggling tech company was able to grow those by 37 percent year over year.
Here’s a snapshot of what’s going on currently with TWTR, or at least, what was happening at the time of this writing:
If it’s of any comfort to TWTR shareholders, the stock is still above the an all-time low of $13.91. At the same time, Twitter was once valued north of $70 per share, and this certainly isn’t that.
Sorry, but that bird isn’t chirping right now.