Twitter Shares Fly South, Below First IPO Level
They didn’t crash, but they’re back at the gate. The online social networking service’s stock nosedived more than 6 percent yesterday to $25.92, dipping below its initial IPO price of $26 for the first time. The microblogging site has struggled to on-board new tweeters, with user growth slowing to just 1 percent, and has suffered from shifting management. But Twitter wasn’t alone; several online firms took hits, with Netflix down nearly 8 percent and Alibaba at a below-IPO low, which is prompting speculation of tech wariness among investors.