Twitter shares plunge to record low amid user growth worries

Social media giant Twitter gave investors a rude shock, when shares of the company dropped well below 5% in yesterday’s round of midday selling and buying. (TWTR) continued their downward march Monday hitting an all-time low of $28.91 in response to earnings. The company’s shares are down 58 percent from their peak in January 2014.

On Monday, Twitter was about 35 percent lower than its first close in November. 2013, but remained above its IPO price of $26 per share.

The rating agency believes that the ideal solution would that Jack Dorsey rejoins Twitter’s permanent CEO-ship, stepping down as CEO of Square, while Mr. Bain takes over the role of President or COO, and Mr. Williams becomes the Chairman of the board, or choses a similar leadership role on the board.

This continues a move downwards from last week when chief executive Anthony Noto told investors not to expect any meaningful growth in Twitter’s audience for a “considerable” amount of time.

Excluding SMS Fast Followers, MAUs for the quarter were 304 million, up 12 percent from the prior-year period, but up only slightly from 302 million in the preceding quarter. It is imperative to state that Dorsey took over post of CEO after Dick Costolo resigned earlier during the month. Twitter is in the process of searching a new CEO, but has said it will only consider candidates who are in a position to make a full-time commitment to the company.

Twitter shares were up 1.63% to $29.63 at 1447 BST on Tuesday. In after-hours, the stock further declined $0.13 or 0.44 percent to $29.14.