Twitter’s IPO took place exactly one year ago today. Priced at $26 per share, Twitter rallied 73 percent to close at $44.90 on the day, more than delivering on the hype. And there was more to come – just before Christmas 2013, the stock zoomed up to $73.31.
And after that? Nothing.
Well, nothing good, anyway. The “Santa rally” was Twitter at its absolute peak. The market then slumped consistently all the way down to a $30.50 May 2014 low – a decline of 58 percent.
Finding fresh legs and renewed enthusiasm, the stock clawed its way back to a high of $55.42 last month before falling off again after the Q3 2014 earnings report disappointed investors.
Last night Twitter closed at $40.84, which means it’s about five dollars below its closing price on IPO day. Which essentially means it’s gone pretty much nowhere over the last year.
Here’s your chart.
Twitter seems to like the $40-50 price range, returning to it again and again. However, if the Q4 earnings report doesn’t (at an absolute minimum) beat expectations, Twitter might not be hugging that price point for much longer.