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Twitter shares just fell to their lowest closing price ever

Twitter's headquarters is pictured on Thursday, Nov. 7, 2013, in San Francisco. The company's stock opened at $45.10 when it began trading Thursday on the New York Stock Exchange. (AP Photo/Noah Berger)
AP Photo/Noah Berger
It can always get lower.
By Alice Truong
Published Last updated This article is more than 2 years old.

Twitter is learning firsthand that yes, things can always get worse.

Shares in the social network fell to their lowest closing price ever, ending the May 3 trading session at $14.01, down 2.7% on the day. The stock had dipped below $14 in intraday trading, hitting a record low of $13.90 earlier in the day.

Just a week ago, Twitter reported yet another quarter of disappointing earnings, leading shares to slide 10% after hours on April 26, the day the results were disclosed.

Twitter’s earnings report showed favorable monthly active user growth, but investors were dismayed with revenue growth, which was the slowest for any quarter the company has reported. The company said an expected pickup in spending by advertising clients failed to meet forecasts.

Twitter was one of the most-hyped companies in tech when it went public in 2013. The stock has been steadily falling since topping $70 in December of that year.

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