It was November 2013 and most of America was so jealous because they didn’t have $26 to buy a single share in that infernal blue bird taking up all of our free time.
Twitter announced its IPO and shares skyrocketed to nearly 73 percent above their offering price after the NYSE opening bell. That was all on the first day Twitter appeared on the New York Stock Exchange, and when it was valued at $37 billion.
Less than two years later, a few media folks are looking to tweet the tech giant’s swan song as stocks plummeted five percent in one day, closing very close to the company’s announcement price in 2013.
Twitter shares are now worth $29.25 each, according to AFP via Yahoo!:
Twitter co-founder and interim chief executive Jack Dorsey acknowledged the challenges. “We will take the necessary time to build a service people love to use every day,” he said in a call with analysts last week. “We realize it will take a lot of time.”
Although he assumed the gig on “a temporary basis” following the unceremonious departure of former CEO and perpetual lightning rod Dick Costolo, that sounds like the tone of someone hoping to see things improve…and get his investment up over three bucks a share.