SHORT MESSAGING

Twitter stock just hit a new all-time low

Obsession
Mobile Web
Obsession
Mobile Web

Twitter shares have fallen to an all-time low as the company figures out its future leadership, product direction, and growth strategies.

The stock ended the session today (Aug. 3) at $29.27, down almost 6% on the day to a new closing low, after setting a new record intraday low of $28.69. That represents a roughly 45% decline since early April. Twitter’s market capitalization is now below $20 billion, according to Yahoo Finance.

At this rate, one must wonder how long potential acquirers like Google, Facebook, or Softbank will sit around before making a move.

Twitter is still a unique and valuable asset, with a decent advertising business and several talented executives. But it has struggled to figure out how—and whether—it can rapidly grow its user base. And its CEO-succession strategy—naming co-founder Jack Dorsey as temporary CEO while the board conducts a search, which was in part supposed to placate Wall Street—does not seem to be helping.

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