30 Dec 2013, 10:38 PM
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Hall of Famer
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Join Date: Mar 2007
Location: The Barren Wasteland
Posts: 1,218
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Quote:
Shares of the microblogging site are down more than 5% Monday, pushing Twitter’s stock price briefly below $60. It’s the second day of a sell-off. On Friday, Twitter’s shares dropped 13%, erasing more than $5 billion of its market capitalization.
On Monday, by late morning, Twitter lost an additional $2 billion in its market cap.
The rapid sell-off in Twitter’s stock comes after an epic rally pushed the stock up 182% from its Nov. 6 $26 initial public offering price.
Even with this two-day sell-off, Twitter shares remain up 130% from the IPO price, and it is still one of the year’s best-performing IPOs.
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Story here.
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