Twitter shares hit all time low
Twitter's shares faced an all time low, coming to 34.40 dollars, after massive quantity of 65 million shares of Twitter stock unlocked today.
According to TechCrunch, Twitter is trading around the 34.40 dollar mark, which is slightly more than a new record low of $34 that it set earlier today.
However the normal volume for Twitter is around 13 million, against the massive 65 million, which unlocked today.
Twitter has around 569 million shares outstanding. Twitter founders and an early investor pledged to not sell their shares, the report added.
However, Twitter shares reportedly topped 74 dollars after debuting around 45 dollars per share after being priced at a modest $26. Twitter is therefore still up from its IPO price, but not much.
(Posted on 07-05-2014)