Investors who bought Twitter’s public debut are officially underwater.
On Thursday, shares of Twitter fell below $US26 — the level where Twitter shares priced for the November 2013 IPO — for the first time ever.
This means even the earliest Twitter buyers are now losing money and that Twitter is officially in the red for the entirety of its life as a public company.
On its first day of trading as a public company, Twitter shares opened for trading on November 7, 2013 at $US45.10 and eventually closed at $US44.90, a ~70% gain in their first day of trading.
During the summer, and particularly following Twitter’s disastrous second quarter earnings call, the stock has been making new lows and creeping up on the magic $US26 per share number. And now, that has been breached.
Here’s the brutal chart.