Twitter Stock Falls After Christmas ‘Santa Rally’

  • SHARES

By Shea Bennett Comment

Twitter Stock Falls After Christmas 'Santa Rally'

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.

Twitter Stock Falls After Christmas 'Santa Rally'

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.

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