Twitter shares are now lower than they were before Dick Costolo stepped down

Twitter shares are now more than $US1.40 below where they were trading on Thursday right before CEO Dick Costolo said he was stepping down.

In early trading on Monday, the stock was down as much as 4% to around $US34.40 per share.

On Thursday, the stock closed at $US35.83 per share. After the market close, the company announced Costolo would step aside July 1 and co-founder Jack Dorsey would take the role as interim.

Over the last several days, a number of stories have circulated about whether Dorsey wants the CEO role full-time, whether investors would be happy with that, and what happens next with folks like Adam Bain and Anthony Noto, who are already at the company.

On Thursday after the market close, shares gained as much as 10% before closing nearly unchanged on Friday and now, shares are sliding to start the week.

And while the performance of Twitter shares has been underwhelming over the last several quarters, the real problem is user growth.

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