Twitter stock closed today at $31.85 per share, down 17.8%.
The company’s lockup expired today, so many employees probably sold. However, it’s worth noting Twitter’s biggest investors and stakeholders likely aren’t selling.
Twitter’s stock has been falling a lot since the company reported earnings last week. Investors appear to be worried that the company’s user base isn’t going very quickly even though its financials are pretty good.
Twitter has 255 million monthly active users, which is smaller than other social networks like WhatsApp (500 million), LinkedIn (300 million), and Facebook (1.28 billion).
However, even though Twitter isn’t growing its users very quickly, CEO Dick Costolo said last week that its mobile ad network reaches up to 1 billion people. Twitter bought mobile ad network MoPub last year.
Some think that even though Twitter may never become a massive social network on the scale of Facebook, it has a nice lifeline thanks to the MoPub acquisition.
Here’s a look at Twitter’s stock decline since its IPO day:
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