Twitter's shares tumble
Twitter's shares are having a lousy time, losing 10% of their worth while the social network looks for a new boss, after the departure of Dick Costolo. When he resigned, the news that Twitter's co-founder Jack Dorsey would be replacing him temporarily hasn't exactly set the market alight.
Seems Twitter are good at getting users and being the media's go-to social network, but when it comes to competing with the big boys at the stock market, they're left wanting.
This poor performance isn't just because of Costolo leaving the company - he himself saw Twitter's share value dropping by almost a third in the two months before he quit his job.
Of course, another problem Twitter has, is getting people to be active on the site - some people just don't get how the platform works, while others think it moves far too quickly when they've got things to do. And then, there's those who are getting bored of the fact that Twitter won't leave the platform alone, forever tinkering with it and prodding members with regular neediness.
For all the problems it has, Facebook is still king. You can't use it with a nickname, it'll ravage your personal data and has hugely problematic attitudes to privacy - yet, it is still hanging Twitter its behind by generating 71% more revenue per active user than Twitter in the three months to June 30th.
Twitter shares finishing the stock session last night at a record low of $28.48 per share, which is marginally higher than the price they were getting when they first kicked off with their initial public offering price of $26 in 2013. Since a peak share price in December 2013, almost $30bn has been erased from the value of the company.