Twitter shares crash to below initial market price
by Rupert Neate in New York from on (#HZY2)
Investors growing increasingly concerned over Twitter's ability to compete with Facebook after shares fall 6% to below $26 initial public offer price set in 2013
Twitter shares have crashed below the price they originally sold for as investors grow increasingly concerned that the service won't be be able to become a mainstream platform like Facebook.
Shares in the company, which have soared as high as $69 a share, fell 6% on Thursday to below the $26 initial public offer (IPO) price when Twitter floated in November 2013. It means the company's market value has collapsed from a high of $41.5bn to just $17.6bn on Thursday.
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