“The market appeared unwilling to wait and see,” Wang reports. “The shares plummeted as much as 19 percent to $34.58, the biggest intraday decline since October 2016.”
“Twitter’s user woes are similar to those of Facebook Inc., which also has been plagued by manipulation, robot accounts and unrest about the growing influence of social media in the culture,” Wang reports. “The huge number of deletions have raised concerns among investors that Twitter — the favorite communications tool of U.S. President Donald Trump — can’t attract a more general audience to supplement the politicians, entertainers and journalists who are among its prime users. The company, however, said the vast majority of malicious accounts are inactive or caught before they become counted among active users.”
Read more in the full article here.
MacDailyNews Take: In our quest to win The Understatement of the Week Award: This has been a bad week for social networking stocks.
Mark Zuckerberg loses $16 billion in record Facebook fall – July 26, 2018
Facebook stock plunges as users vanish – July 25, 2018