After a pre-Christmas rally that saw the market flirt with the $75 share price, Twitter’s stock has fallen fairly sharply today, with shares edging back below the $60 level at one stage before rebounding somewhat in afternoon trade.
On Christmas Eve Twitter enjoyed a 7.6 percent gain to close at its all-time high, before rallying again on Friday to reach $74.73/share. This uptick, colloquially referred to as a “Santa rally” during a Christmas surge, was short-lived, with the market moving lower today, although values have steadied in the past couple of hours.
Rival Facebook is also down since Friday.
Twitter is still significantly above its $44.90 IPO closing price, and, at current levels, the company is valued at almost $34 billion.